Crypto Market Forecast 03 October 2024
Oct 03, 07:44 PM
The daily crypto market report highlights mixed trends across major cryptocurrencies. Bitcoin and Ether show mildly bullish conditions over the next 24 hours, while Avalanche remains bearish. Over the week, Bitcoin is expected to continue its positive performance, but Ether, Litecoin, and Avalanche may experience mild bearish trends.
Cryptocurrency prices have been negatively impacted by geopolitical tensions, particularly in the Middle East. Bitcoin's price briefly tested $60,000 before settling at $61,348, and Ether dropped 4.1% to $2,393. Despite these declines, there is speculation of a rebound based on past market responses to global conflicts.
Franklin Templeton has applied for a Bitcoin and Ether ETF, which would offer exposure to both assets. This follows a trend of increased institutional interest in cryptocurrency ETFs.
Meanwhile, Binance has ruled out the possibility of an initial public offering (IPO), citing its strong financial position. Binance Coin has fallen 1.2% to $549. In legal developments, the SEC has appealed a ruling in favor of Ripple, and Bitwise has filed an application for a spot XRP ETF.
Additionally, Gubir Grewal, the SEC’s director of enforcement, will step down next week, adding another twist to ongoing regulatory challenges in the crypto space.
Cryptocurrency prices have been negatively impacted by geopolitical tensions, particularly in the Middle East. Bitcoin's price briefly tested $60,000 before settling at $61,348, and Ether dropped 4.1% to $2,393. Despite these declines, there is speculation of a rebound based on past market responses to global conflicts.
Franklin Templeton has applied for a Bitcoin and Ether ETF, which would offer exposure to both assets. This follows a trend of increased institutional interest in cryptocurrency ETFs.
Meanwhile, Binance has ruled out the possibility of an initial public offering (IPO), citing its strong financial position. Binance Coin has fallen 1.2% to $549. In legal developments, the SEC has appealed a ruling in favor of Ripple, and Bitwise has filed an application for a spot XRP ETF.
Additionally, Gubir Grewal, the SEC’s director of enforcement, will step down next week, adding another twist to ongoing regulatory challenges in the crypto space.