This weekend, the Singaporean cryptocurrency firm QCP Capital reported a significant drop in market volatility after the approval of spot ethereum (ETH) exchange-traded funds (ETFs), despite ongoing catalysts. QCP highlighted that bitcoin is under bearish pressure due to potential new supply from the Mt Gox distribution, estimated at $ 9.6 billion, and from the …
Microstrategy’s Michael Saylor States Spot Ether ETF Approval ‘May Be Better for Bitcoin’
Michael Saylor, Executive Chairman of Microstrategy, stated that the approval of several spot ether ETF proposals by the U.S. SEC might be good for Bitcoin. In “What Bitcoin Did,” Peter McCormack’s podcast, Saylor stated this approval gives rise to a crypto asset class, including several use cases like tokens, NFTs, and defi, with Bitcoin at […]