Ethereum

Bitcoin ETF

Bitcoin

<ul>
 <li>The cryptocurrency market witnessed considerable volatility, driven by swift developments related to the approval of a Bitcoin ETF by the SEC.</li>
 <li>Ethereum reached a 32-month low against Bitcoin, fueled by increasing speculation and excitement surrounding the potential approval of Bitcoin ETFs.</li>
</ul>
<h3 id="span-span-data-font-font-size-style-font-size-18px-major-events-to-watch-span-span-style-font-size-20px-span-span">Major Events To Watch:</h3>
<img src="https://lh7-us.googleusercontent.com/9nfbq8IIsu4UnYLp-e1lRC_UojNQphYrtdLQo0orMcvAyDcbfp4mlUf4DjkC6roS2F5rGCwfYOJAZe0XU90cQ_w7_ggIhqUfC4CZt1rrhpQkdYR2jnQixiUkphK7BvukQ2Ei_dRPVJHL6IuX4BikYWo" width="453" height="261">
<h4>Crypto Fear and Greed:</h4>
<img src="https://lh7-us.googleusercontent.com/o-Y3bjRtw1eDZCfYYu-1exfglqEd9Ztd22c9NAsLucWYvMTFErnyG0OjHPc5uTJaxb2oWoMLgqvdOBJSduZuhHpWzIBPrN1F-3_2MtgJak9MHOpm6fI3A4rHlnMHBXOIj7tV4RZ_k90GF8J1yvOdLqA" width="566" height="244">
Over the past 24 hours, the market experienced some profit-taking at higher levels. Consequently, the "Greed and Fear Index" has declined, registering a reading of 73 on its 0 to 100 scale.
<h4>Latest Market Update:&nbsp;</h4>
<ul>
 <li><a href="https://www.coingabbar.com/en/price-analysis/fueling-frenzy-will-the-bitcoin-rally-sustain-its-blazing-trail" title="Bitcoin" class="f-link" rel="noopener noreferrer nofollow">Bitcoin</a>, the world's oldest and most valuable cryptocurrency, briefly approached the $48,000 mark following a fake tweet from the US Securities and Exchange Commission (SEC) falsely claiming approval of all spot BTC exchange-traded funds.</li>
 <li>The SEC promptly removed the tweet, attributing it to a compromise of its social media handles. Subsequently, BTC's price declined to the $46,000 range within hours, leading to the liquidation of over $50 million worth of derivatives.</li>
 <li>Notable altcoins such as Stacks, Injective, Astar, Avalanche, and ORDI experienced minimal losses amid the market fluctuation.</li>
 <li><a href="https://www.coingabbar.com/en/price-analysis/bonk-breakout-could-a-gain-be-the-next-big-move" title="Memecoin BONK emerged as the top gainer" class="f-link" rel="noopener noreferrer nofollow">Memecoin BONK emerged as the top gainer</a> on the second day, exhibiting an impressive 24-hour surge of over 29.74 percent.</li>
 <li>In contrast, Klaytn stood out as the single largest loser, undergoing a 24-hour dip of over 33.84 percent.</li>
 <li>The total crypto market volume in the last 24 hours stands at $113 billion, reflecting a 12.17% increase.</li>
 <li>DeFi contributes $7.15 billion to the total volume, representing 8.80% of the overall 24-hour crypto market volume.</li>
 <li>Stable coins account for $71.34 billion in volume, constituting 87.79% of the total 24-hour crypto market volume.</li>
 <li>Bitcoin's dominance is currently 53.86%, showing a decrease of 1.26% within the day.</li>
</ul>
<h4>Major Worldwide News Update:</h4>
<ul>
 <li>A security breach on the SEC's Twitter account (X) resulted in a misleading announcement falsely claiming Bitcoin ETF approval. The Safety Team verified the breach and identified an individual who gained control of the SEC account's phone number through a third party. Critics are calling for an investigation into the possibility of market manipulation.</li>
 <li>Anthony Scaramucci suggests the SEC's unauthorized tweet on Bitcoin ETF approval may be an employee's premature disclosure, contradicting Chair Gary Gensler's claim of a hack. Scaramucci criticizes the SEC leadership's "amateurish and dishonest" handling, emphasizing a need for accountability.</li>
 <li>Major players in the Bitcoin exchange-traded product (ETP) space adjusted S-1 forms before the SEC's deadline. Bitwise ETF (BITB) and ARK 21Shares (ARKB) offer fee reductions, while Fidelity Wise (FBTC) slashes fees until July 31. Competition prompts fee adjustments among WisdomTree (BTCW), Invesco Galaxy (BTCO), Valkyrie (BRRR), iShares (IBIT), VanEck (HODL), and Hashdex.</li>
 <li>BlackRock and Fidelity, major players in the financial industry, are eagerly awaiting <a href="https://www.coingabbar.com/en/crypto-currency-news/sec-must-approve-filings-for-bitcoin-etf-trading-start" title="SEC approval for Bitcoin ETFs" class="f-link" rel="noopener noreferrer nofollow">SEC approval for Bitcoin ETFs</a> by January 10, which could streamline Bitcoin investment through the stock market. The SEC's decision on exchange filings and registrations holds significant importance for spot Bitcoin ETFs. If approvals are granted, trading could commence as early as January 11. Analysts are optimistic about SEC approval, underscoring the initiatives led by Chair Gary Gensler. Nate Geraci and Eric Balchunas emphasize the relevance of undisclosed fees and investor preferences in the context of spot Bitcoin ETFs.</li>
 <li>Peter Schiff, an investor, cautions about a potential decline in Bitcoin prices, even in the event of SEC approval for a spot Bitcoin ETF on January 10, 2024. He emphasizes the likelihood of delay or rejection. The recent market turbulence stemming from the hacked SEC announcement adds to concerns regarding a possible 'sell the news' scenario.</li>
</ul>
COIN GABBAR Views: Will the market experience panic selling or consolidation if the SEC approves a Bitcoin ETF? Could a positive Bitcoin Spot ETF verdict potentially drive the Bitcoin price above $50,000? Do you anticipate the SEC approving or delaying the decision to Q2, given that today is the scheduled announcement for the BTC ETF decision? To get latest news Stay tuned us at <a href="https://www.coingabbar.com" title="coingabbar" class="f-link" rel="noopener noreferrer nofollow">coingabbar</a>
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
Also Read: <a href="https://www.coingabbar.com/en/crypto-currency-news/crypto-roundup-jan-btc-peaks-etf-approval-hovers-on-the-horizon" title="Crypto Roundup 09 Jan: BTC Peaks, ETF Approval Hovers on the Horizon" class="f-link" rel="noopener noreferrer nofollow">Crypto Roundup 09 Jan: BTC Peaks, ETF Approval Hovers on the Horizon</a>

24 Crypto Update,9 Jan: Pump and Dump Frenzy Amidst Bitcoin ETF Rumors

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