Bitcoin has experienced an extremely volatile week with the launch of Bitcoin ETFs after years of anticipation.
On January 9th, several news outlets reported an inaccurate story after the official SEC Twitter account posted a tweet claiming that the regulatory agency had approved the first Bitcoin ETF. Bitcoin surged 2.5% to $47,900 immediately after the fake tweet, but then dropped nearly 7% to a low of $44,701 after SEC Chairman Gary Gensler denied the information, stating that the SEC’s Twitter account had been hacked.
By January 11th, the first Bitcoin ETFs in the US began trading after approval by the Securities and Exchange Commission (SEC). The price of the world’s largest cryptocurrency by market capitalization rose 8% to $48,900.
However, since then, BTC has faced strong selling pressure as traders initiated a “sell the fact” event, pushing the price back to $41,500 before recovering and trading above $42,000 over the weekend.
#1. Focus
The United States Securities and Exchange Commission (SEC) has officially approved the first Bitcoin Exchange Traded Fund (ETF) after 11 years of rejection, according to regulatory filings on January 11th (Vietnam time).
The Grayscale Bitcoin Trust (GBTC) – which has been converted into an ETF on Wednesday – accounted for about half of the volume, while BlackRock’s new fund accounted for about a quarter of the volume.
High trading figures marked the end of a fast start as 10 such funds saw trading volumes exceed $1 billion in the first 30 minutes of trading on Thursday. This list was released just hours after the US Securities and Exchange Commission approved a series of Bitcoin ETFs in a significant legal decision.
The most explosive first day in ETF history: Bitcoin ETF trading exceeds $4.6 billion.
#2. Altcoin
Ethereum (ETH) price poised for further gains – here’s why?
Dogecoin (DOGE) price surges back – Temporary recovery or reversal?
Solana (SOL) price could drop 20% in the near future.
Ethereum Name Service (ENS) price doubles in 2 days, will the upward trend continue?
Avalanche (AVAX) enters 2024 after a notable 2023 – Will it reach new highs?
#3. Exchanges
Binance to delist 9 spot trading pairs on January 12th.
Apple removes Binance, KuCoin, and 8 other exchanges from the Indian App Store.
Binance facing stacking issues as BUSD runs into trouble.
Coinbase proposes SEC support for cybersecurity.
Robinhood lists all 11 Bitcoin ETFs.
#4. Projects, Protocols
XAI airdrops $70 million to gamers – Token price sees double-digit decline.
Cosmos community votes to reduce minimum ATOM inflation to 0.
Starknet community supports Alpha 13.0, introduces fee payments in STRK and ETH.
Arbitrum and Polygon: The changing tide of Layer 2?
Hedera network approves $408 million HBAR for ecosystem development.
Monero and Zcash liquidity dwindles as Binance plans to delist privacy coins.
Injective releases Volan upgrade focusing on real-world assets and connecting with the Cosmos chain.
#5. Stablecoin, DeFi, Metaverse
Stablecoin PYUSD gaining popularity in DeFi.
CFTC says DeFi identity should be a US policy priority.
#6. NFT, AI, Blockchain
Arthur Hayes joins Ritual decentralized AI platform.
X no longer supports NFT profile pictures.
Solana Saga phone owners receive over $1,000 worth of free NFTs.
NFT battle between Polygon and Solana.
#7. Scams, Hacks
Coingecko’s Twitter account hacked, fake airdrop information released.
Euler Finance plans comeback after $200 million hack amid co-founder’s $3.8 million loss.
Wise Lending loses 177 ETH in flash loan attack.
#8. Legal Regulations
Hong Kong lawmakers urge swift action after US greenlights Bitcoin ETF.
Over 20 countries have introduced cryptocurrency regulations in 2023 – and there will be more laws.
