cryptonewstoday

Shiba Inu’s (SHIB) project lead has shared a new “MOOD” message that has got the community wondering what is the pipeline for the project.
Read more on: https://thecryptobasic.com/2023/12/19/whats-coming-for-shiba-inu-as-kusama-keeps-community-guessing-with-new-cryptic-message/
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BITCOIN Drops Amid ETF Rejection Rumor
The reason behind the Pumping

In 2023, BTC price surges by nearly 161%, closing successfully above the psychological threshold of $40,000.Bitcoin recently experienced an upswing, surpassing $45,000, reaching levels unseen since April 2022.Two key events fuel the rise in Bitcoin prices: the fourth halving event and the pending decision by the US Security Exchange Commission (SEC) on spot BTC ETFs in the US.
Buy the rumor, sell the news
The cryptocurrency market grapples with "sell the news" sentiment amid resistance in Bitcoin and Ethereum.Bitcoin experiences a brief surge, surpassing $45,000, followed by a sudden drop, erasing $550 million in long positions and $50 million in short positions.Market turmoil ensues due to a Matrixport blog hinting at potential SEC delays in approving ETFs.The notable drop occurs ironically alongside the release of a celebratory video from ETF applicants Galaxy and Invesco, commemorating Bitcoin's 15th birthday on January 3.In the previous news, a decline of 8.51% from $45,300 to $41,400 leads to the liquidation of approximately $600 million in holdings.Concurrently, total open interest experiences a sharp decline, moving from $18.66 billion to $17.72 billion.The collective crypto market cap shrinks from $1.82 trillion to $1.72 trillion, witnessing a disappearance of over $100 billion.On December 2nd, Bitcoin reached its peak at $45,900.Bitcoin crashed by 8% in two hours, hitting a low near $41,500. Ethereum also experiences a 6% plunge during this flash crash.Among the top 100 digital assets, over half experienced double-digit losses for the day.Uncertainty increases as a crucial approval criterion remains unmet, possibly prolonging discussions until Q2 2024.Coingabbar predicts a potential 20% Bitcoin price drop, ranging from $36,000 to $38,000, in case of ETF rejection, triggered by the liquidation of assets linked to ETF approval expectations.
What's the future of BITCOIN
Recent SEC meetings with stock exchanges on Spot Bitcoin ETFs introduce uncertainty.Potential outcomes of these meetings may influence Bitcoin's integration into mainstream investments.Despite a market rebound, investors eagerly await SEC insights into its stance on spot Bitcoin ETFs and their broader financial market impact.The market rebounds, trading 2-5% above the recent low, having absorbed the impact of panic selling.Investor optimism is high for a positive ETF outcome, instilling hope and confidence in the market.
#BitcoinPrice2024 #BitcoinETFs! #sec #cryptonewstoday

Fidelity Investments, a leading money management firm, has introduced an innovative proposal to its ethereum exchange-traded fund (ETF) application, suggesting the inclusion of staking capabilities for its potential Fidelity Ethereum Fund. This amendment, filed with the U.S. Securities and Exchange Commission (SEC), has sent Lido, a prominent staking protocol on the Ethereum network, soaring by 9%.

Expanding Ethereum ETF Landscape
Fidelity’s decision to file for an ethereum ETF in November placed it among other significant potential issuers like BlackRock, Ark Invest, and Grayscale, all vying to launch similar financial products. The move to enable staking within the ETF framework signifies Fidelity’s attempt to provide added value and appeal to traders by allowing them to earn rewards on their investments directly through the fund.

The Staking Proposition
In the detailed amendment submitted to the SEC, Fidelity outlined its plan to stake a portion of the fund’s assets with trusted staking providers, potentially including affiliates of the asset manager. This strategy aims to leverage the Ethereum network’s shift to proof-of-stake following its recent upgrade, enabling investors to participate in the network’s security and consensus mechanisms while earning staking rewards.

Market Response and Future Prospects
The announcement had an immediate impact on Lido, with its token price surging to $2.64, highlighting the market’s positive reception to Fidelity’s staking proposal. However, despite this enthusiasm, experts remain cautious about the SEC’s willingness to approve an ethereum ETF by the next deadline on May 23, citing regulatory uncertainties and the agency’s historical hesitance towards similar crypto-based financial products.

As the deadline approaches, Fidelity’s proposed staking feature sets its application apart, potentially influencing the SEC’s decision-making process and the future landscape of ethereum ETFs. The broader crypto and investment communities are closely watching this development, eager to see how it unfolds and its implications for the integration of traditional financial products with emerging crypto technologies.
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FBI Issued Advisory to Counter Crypto Scams in Investment
The cryptocurrency market is undergoing exponential growth, with tokens continuously gaining value and attracting new investors. However, this surge in interest has also led to a significant increase in crypto scams in the Investment sector. The Federal Bureau of Investigation (FBI) has raised warnings about this concerning trend and notes a 53 percent rise in crypto investment scams over the past year and it is in line with Immunefi's report on Crypto Loss.

Increase in Crypto Scams:

According to the FBI's latest report, fraudulent activities in the crypto investment ecosystem have resulted in approximately $3.94 billion in losses, marking a substantial increase from the $2.57 billion lost in similar scams in 2022. These scams primarily target inexperienced investors through social media platforms like Facebook and X, enticing them with promises of high returns on crypto-related investments. Scammers often employ fake websites and counterfeit tokens to deceive victims, ultimately leading to significant financial losses.
FBI's Advisory:

In response to the escalating threat of crypto scams, the FBI has issued a cautionary advisory to investors. While regulators in various countries are working to formulate rules to combat these scams, the FBI recommends that investors exercise vigilance. One crucial precautionary measure advised by the FBI is the implementation of two-factor authorization, which adds an additional layer of security to investors' funds and mitigates the risk of unauthorized transfers.
Context Amidst Market Dynamics:

The FBI's warning comes at a time when the crypto market is experiencing bullish sentiment, with Bitcoin reaching a new all-time high of $72,600. This surge in market activity has attracted a wave of new investors who may be unfamiliar with the risks associated with the crypto space. It is imperative for investors to heed the FBI's warning and conduct thorough due diligence before committing funds to any crypto token or investment opportunity.
Conclusion:

As the cryptocurrency market continues to evolve and expand, the threat of crypto scams looms large. The FBI's proactive stance in issuing warnings and advisories serves as a crucial safeguard for investors navigating this rapidly changing landscape. By remaining cautious, implementing security measures, and staying informed, investors can protect themselves from falling victim to fraudulent schemes and safeguard their financial assets in the crypto market.
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