Bitcoin
Why Lawmakers ‘Can’t Ignore Crypto’
The cryptocurrency market is on the rise, with bitcoin prices (BTC-USD) and ethereal (ETH-USD) rising amid the potential introduction of new crypto legislation. Expectations are also growing around the approval of spot ether ETFs, fueling investor optimism towards digital assets.
Yahoo Finance Jared Blikre details the details.
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This post was written by Angel Smith
Video transcript
Bitcoin and Ethereum trending higher this week, Jared Blick stands by with a more in-depth analysis of the latest moves in crypto.
Jared.
That’s right.
It’s been kind of quiet the last 24 hours on our crypto heatmap behind me.
We’re going to raise this.
You can see Bitcoin rising 42 basis points.
Ethereum in the upper right corner is up 33 basis points.
Let me show you the last five days.
We saw an incredible explosion in the Aether.
Uh That ended in the last three days.
It was Monday afternoon, news that those Ethereum the spot, Ether Bitcoin, the spot Ether ETF finally hitting the market potentially.
And that would mark a twist for a second.
And all of this came after this attack.
Bill 21 that passed the House of Representatives looks like it could make it to President Biden’s desk, it looks like he could sign it.
Now he came out against it.
But all this controversy has only cemented the fact that the parties, two of them Republicans and Democrats, cannot ignore encryption.
So crypto is on the agenda and we will have to see how that plays out during the election.
But you have to think there will be some favorable talk, but that’s just speculation.
Let’s take a look at Bitcoin prices.
If we show the year to date, we can see that Bitcoin is now at the upper end of its most recent trading range, it has not reached any new highs since March, but this looks like a healthy consolidation.
We’ll have to see if we can gather some steam on the next potential catalyst.
Um, I want to check out what’s going on and show you what’s going on with ETF S as well.
We have a plethora of S Spot Bitcoin ETFs and also some futures based ETS including Ethereum and here is a performance today.
I just noticed that we saw an incredible explosion in some of these individual names.
I bet this is also Blackrock’s offering and loyalty.