Bitcoin
Bitcoin’s price has surged back to $95,000, driven by optimism surrounding a potential trade agreement between the United Kingdom and the United States. The initial quarter had been challenging for crypto investors due to tariff-related concerns. However, as we move towards the middle of the second quarter, expectations are mounting for these issues to dissipate, paving the way for a bullish period for cryptocurrencies.
NEAR Coin ETF Application
In November, decisions are expected for around 70 altcoin ETF applications. Consequently, the real crypto rally is anticipated to start in the final quarter of the year. ETF issuers view the changing SEC administration as an opportunity and are submitting applications to join a potential wave of collective approvals for more alternative crypto products.
Recently, Bitwise filed an S-1 form with the SEC for the NEAR Coin ETF. Although NEAR, a popular smart contract platform, suffered significant blows during the FTX collapse, it managed to survive. Unlike SOL Coin, NEAR did not achieve massive gains but has evolved into an asset capable of an ETF application, which is highly positive.
The recent development had little impact on the price, which only saw a $0.1 increase. The resistance levels at $2.39 and $2.6 are crucial in the short term.
The anticipation of November ETF application decisions adds further excitement to the market. Many investors are watching closely, expecting a potential green light that could spur a significant rise in crypto asset values.
The path towards ETF approvals is eyed by many as a pivotal moment. It promises to introduce various investment alternatives that could attract institutional interest.
Meanwhile, the ongoing developments between the UK and the US add another layer of optimism. These discussions are set to influence the broader economic environment, with potential ripple effects on digital currencies.
As market dynamics evolve, stakeholders remain hopeful for a more stable and prosperous crypto investment landscape.
