The price of Ethereum has broken through a yearly high.

After the approval of spot ETFs, the first cryptocurrency reacted with a fall, and ETH showed an increase of more than 10%.

 

This gap hints at a shift in trading sentiment. The latter is betting that spot ETH ETFs will be next in line for approval by the US Securities and Exchange Commission (SEC).

 

Companies like BlackRock, Hashdex, ARK 21Shares, VanEck, and Fidelity have submitted applications to launch spot ETFs on Ethereum.

 

BTC soared above $47,000 for the first time since April 2022!

On the night of Tuesday, January 9, the BTC rate reached $47,024. Co-founder of the hedge fund Alt-Tab Capital Greg Moritz attributes the January price rally to the market’s preparation for the launch of spot Bitcoin ETFs in the United States.

 

The range of Bitcoin price fluctuations could widen significantly in the coming days if the Securities and Exchange Commission approves applications for their creation.

 

Altcoins also showed significant growth. Ether (ETH) rose 4.7% to $2,352, Solana rose 13.3%, and Avalanche rose 11.4%.

 

The mobile apps of several major Bitcoin exchanges have been removed from the official Apple store in India.

The restrictions affected nine platforms - Binance, KuCoin, Huobi, Kraken, Gate, Bittrex, Bitstamp, MEXC, and Bitfinex - it was these exchanges that previously fell out of favor with the Indian Ministry of Finance, which recently announced the imminent blocking of the corresponding domains in the country for conducting illegal activities.

 

Coinbase expects a repeat of the 2018-2022 cycle.

A 44-page report from Coinbase Institutional and Glassnode predicts a repeat of the 2018 cycle, one of the most turbulent bull markets in cryptocurrency history. Analysts took into account the total supply in profits and the number of long-term holders of BTC. After comparing all previous cycles, they concluded that the 2018-2022 cycle will repeat this time.

 

In this case, the price of BTC will increase by at least 3 times from the previous all-time high of $69,000. This means that by the time the next bull market begins, BTC will be worth at least $200,000.

 

If Ethereum repeats the same trend and demonstrates a 3.2-fold increase from the previous all-time high, the ETH rate will reach $15,000. Thus, the total capitalization of the cryptocurrency market will exceed $10 trillion.

 

David Pan, the founder of ACE Exchange, one of the country's largest crypto exchanges, was arrested on fraud charges.

Police have seized at least NT$200 million ($6.4 million) in assets believed to represent illicit profits from fraudulent activities.

 

Gamma Strategies lost about $3.4 million as a result of the exploit.

The decentralized finance (DeFi) protocol of Gamma Strategies has been exploited. To ensure safety, the team suspended user deposits but allowed withdrawals.

 

According to cybersecurity specialists PeckShieldAlert, the attacker managed to take possession of 1,500 ETH (about $3.4 million at the time of writing). Representatives of Gamma Strategies sent a message to the hacker asking him to return the funds.

 

The cryptocurrency market has opened up to billions of dollars in investment: the United States has approved a spot Bitcoin ETF.

A turning point has come for the cryptocurrency industry - the US Securities and Exchange Commission (SEC) has approved the opening of spot investment funds (ETFs) related to Bitcoin. This is a landmark event for the $1.7 trillion industry, which should increase confidence in digital assets as a whole, as well as open up the cryptocurrency market to billions of dollars of ordinary investors.