The market is marketing and people are getting excited, hmmn, typical June behavior, but let them have it, it’s that time of the year for disrespectful short spikes here and there, brace yourselves.
Many are saying it’s due to the institutional investment fomo, I mean, it was just about yesterday that BlackRock filed for Bitcoin ETF,which also hasn’t been granted, so could that really be the reason for any sort of fomo?
Perhaps not the only reason, but definitely part of it. Isn’t it interesting how the SEC literally said they were going hard at Crypto because they were protecting people?
But the people seem to disagree because shortly after, BlackRock, the biggest asset management firm files to offer Bitcoin ETF clearly flaunting and publicly disregarding the warning from the SEC. You can’t make this shit up.
And how did the market react? With a sharp pump that sent Bitcoin flying above $30k. After a while of red candles and FUD’s, it was definitely a breather to see green candles mount each other again in the earlier hours of today and you can trust the sentiment of Crypto Twitter to flip to bullish just as quick.
The rest of the market didn’t move much though, Ethereum and BNB are still a far shot away from their quarterly highs which Bitcoin already has in sight. Like a typical Bitcoin season, alts standby and watch while Bitcoin rips, pro traders call it Bitcoin dominance and it’s super high right now.
Hive hasn’t moved much either but has certainly recovered from $0.27 zones we were last week, the support at $0.25 is super stronk it was nice to watch it being defended even as the rest of the market bled out but still ill personally be delighted if we remain above $0.30 even better, I’ll be delighted to take anything higher than $0.5 Hive, it’s been a while of slow grind.
The price of Leo continues to melt mouths though, since the price took off from $0.042 about a month ago, it’s presently sitting pretty at $0.0083, interesting to watch how Leo acted independent of the market throughout the SEC brouhaha and the FUD that followed, it’s what happens when high demand meets a tight supply of a token with unique utility. Sounds like Bitcoin, but even better.
Anyway, in a nutshell
- The largest bank in Germany will offer crypto services to their clients.
- The largest fund on the planet (BlackRock) applied for a Bitcoin Spot ETF.
- The largest banks in the USA joined forces to launch their own crypto exchange: EDX.
- The largest telecom in Germany (Deutche Telekom) became a Polygon validator.
- Multiple other enormous funds either have revived their Bitcoin Spot ETF applications, or started a new application.
- Hong Kong is back in the crypto business and wants to attract crypto money, with China's permission.
- Crypto became legal tender in Brazil (a federal law that became valid this week).
Can someone tell me again how this is not one of the best times per technology advancement the world has ever seen. I’ll wait.
Thanks for reading, Anon.