Bitcoin, Ethereum, Dogecoin Trade Mixed As Early Spot ETF Flows Fail To Meet Market Expectations: Analyst Predicts Pre-Halving Rally Before King Crypto Skyrockets To $300K
Portfolio Pulse from Mehab Qureshi
Cryptocurrencies Bitcoin, Ethereum, and Dogecoin showed mixed performance as early spot ETF flows did not meet expectations. Bitcoin has pulled back 10% from recent highs after the launch of 11 spot ETFs in the U.S. A federal judge is evaluating the SEC's lawsuit against Coinbase regarding the classification of digital assets. The global cryptocurrency market cap increased by 1.04% to $1.70 trillion. U.S. stocks fell and Treasury yields surged after retail sales data suggested a resilient consumer base, potentially affecting the pace of Federal Reserve rate cuts. Cryptocurrency analyst Michael Van de Poppe predicts Bitcoin could consolidate before a pre-halving rally, potentially reaching $300,000.
January 18, 2024 | 3:27 am
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Coinbase is involved in a legal battle with the SEC over the classification of digital assets, which could have significant implications for the company's operations and the broader cryptocurrency market.
The ongoing lawsuit between Coinbase and the SEC is a critical event that could affect investor sentiment and the regulatory landscape for cryptocurrencies. Negative outcomes could lead to a decrease in Coinbase's stock price in the short term.
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IMPORTANCE 85
RELEVANCE 90