Bitcoin ETF Pessimism. Bitcoin ETF Hope. Bitcoin ETF Optimism.

January 5, 2024

Crypto Market Update 05-01-24

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Happy Friday everyone!

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And Happy New Year!! Wishing you all an excellent 2024 and here’s your first weekly recap of the year πŸ˜ŽπŸ“°


Last 7 Days Market PerformanceΒ 


Bitcoin is up 3.7%, now at $ 43,628.00 πŸ“ˆ

Ethereum is down 3.4%, now at $ 2,235.00 πŸ“‰

Total crypto market cap: $ 1.72 Trillion

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Fact for the week πŸ€”:

🌳 Germany's emissions dropped to a 70-year low in 2023, primarily due to a significant reduction in coal power generation and an increase in renewable energy, which accounted for over 50% of electricity generation. 🌎
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Onto this week’s updates 🚦

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πŸ”΄ Bitcoin ETF Pessimism πŸ‘Ž

A survey reveals that less than half of U.S. financial advisers believe a Bitcoin ETF will be approved in 2024, with many expecting approval in 2025 or later, or never. The survey gathered opinions from 437 investment professionals across the U.S., highlighting strong client interest in crypto but concerns over access, regulation, and volatility. Let’s say crypto community has an opposite feeling. β›”
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🟑 Bitcoin ETF Hope 🀞

In a different view, a Bloomberg analyst is predicting a 90% chance of the SEC (U.S. Regulator) approving a Bitcoin ETF soon, amidst increasing pressure. Seyffart, the analyst, suggests the approval could bring about $10 billion in inflows to Bitcoin ETFs in the first year. As the ETF decision deadline approaches on January 10, the market eagerly anticipates this historical moment. ⚠️
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🟒 Bitcoin ETF Optimism πŸ‘

On the opposite side we have BlackRock, and the largest asset manager in the world is poised to purchase $10 million in Bitcoin on January 5 to seed its Bitcoin ETF. This move may signal anticipation of an imminent approval for the Bitcoin ETFs - some say it can even happen today! Meanwhile, Bitwise, another ETF issuer, has revealed plans to potentially seed their ETF with up to $200 million upon receiving approval.πŸš€

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🎬 Crypto community isn’t looking at any topic other than Bitcoin ETF. An approval by the American regulator would open Bitcoin to billions of new investments, and therefore price increase. This can be an historical moment for Bitcoin adoption πŸš€

Meanwhile, buy your Bitcoin, or parts of it, at lympid.io βœ…

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Lympid: Crypto interests on a trusted, regulated platform

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Talk next week πŸ‘‹

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Great job on learning something new today πŸŽ‰