ARK Invest Takes Stock While Bitcoin Awaits Next Market Mover

Written by BTSE

July 18, 2023

Crypto Market Analysis

Trending Tokens on BTSE:

Asset
Price
24h %
$30,158.20
-0.32%
$1,912.21
-0.67%
$0.73937
-1.91%
$26.703
-4.84%

 

 

 

 

(as of 2:30 AM UTC, July 18, 2023) 

 

Bitcoin (BTC) has continued to hover at the $30k mark as Tuesday rolls around in Asia, while Ethereum (ETH) has returned from its monthly high of US$2,004 to US$1,912 – much closer to its 20-day moving average of $1,897. Bitcoin similarly has also remained remarkably stable at its current price range. 

Following Ripple’s small victory in its legal battle with the SEC, several major traditional finance players have shared insights for the crypto industry. Both British banking giant Barclays and U.S. financial services firm J.P Morgan have linked the situation to the larger ongoing battle between Coinbase and the SEC – and shared positive analyses for Coinbase following this ‘incremental’ victory by Ripple.

In other regulatory news in the world’s largest economy, presidential candidate and current governor of Florida Ron DeSantis announced that he, if elected, will ban the use of CDBCs in the US. Criticizing the over-centralized nature of the currency type, DeSantis has previously been positive about non-government forms of cryptocurrency, like Bitcoin.

In traditional finance, financial firm ARK Invest’s CEO Cathie Wood has recently shared her company is now ‘taking profits’, following its bet on Coinbase (COIN) stock following its drop when SEC first brought legal action against the company. Coinbase stock closed yesterday at a price of US$105.55 – just a short distance from its peak this year of US$107.

 

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