Welcome to the Extreme Investor Network blog, where we bring you the latest and most insightful information on the stock market, trading, and everything related to Wall Street. Today, we dive into the latest news and updates shaping the crypto market and the US BTC-spot ETF market.
President Trump made a bold statement declaring, “We will ensure that the future of crypto and the future of bitcoin will be made in America. We’re going to keep it right here, and a lot of it’s going to be done right here in Florida.” This announcement has sparked conversations about the direction of the US crypto market.
Investors are closely watching the relationship between Trump, Senator JD Vance, and SEC Chair Gary Gensler. Senator Vance, recently announced as Trump’s running mate, has been critical of Chair Gensler and the SEC’s enforcement practices. With concerns raised by Senators about the SEC’s handling of cases like Debt Box, there is anticipation for potential changes in regulations affecting the crypto market.
In the US BTC-spot ETF market, we witnessed a streak of inflows over eleven sessions, indicating growing investor interest. Leading ETFs like Grayscale Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund reported significant net inflows, reassuring investors amid concerns about oversupply from Mt. Gox repaying creditors.
Speaking of Mt. Gox, the upcoming repayment of 141,000 BTC to creditors has the potential to impact the crypto market significantly. The demand from the US BTC-spot ETF market will play a crucial role in determining BTC’s price trend, as oversupply risks loom.
From a technical analysis perspective, BTC’s position above key EMAs signals bullish momentum, with potential upside towards resistance levels. However, factors like US politics, Mt. Gox-related developments, and market flow data need to be monitored closely for informed trading decisions.
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