Crypto
Expert: Bitcoin spot ETF approval to be ‘buy the rumor, buy the news event’
The cryptocurrency community is bullish as the SEC’s approval of a spot Bitcoin ETF seems likely in 2024. Financial behemoths, including BlackRock through iShares, Fidelity, and Ark Invest, are in the race to launch the first ETFs.
In the latter half of 2023, the market witnessed multiple price surges in Bitcoin (BTC) following rumors about the imminent approval of a spot Bitcoin ETF, which were subsequently debunked. This pattern has bred anxiety among investors, with fears of a classic “buy the rumor, sell the news event.”
On the other hand, CrediBULL Crypto, a cryptocurrency commentator on X (formerly Twitter), predicted a different market response. He stated that both the anticipation and the actual approval would result in purchasing enthusiasm, labeling it a “buy the rumor, buy the news event.”
Supporting this bullish outlook, another user argued against the likelihood of a sell-off post-approval, pointing out that ETFs must purchase Bitcoin with cash and cannot repurpose existing Bitcoin holdings.
The intense competition to become the ETF with the most liquidity could lead to a scenario where these large players expedite buying, similar to retail investors, in a fear-of-missing-out (FOMO) situation.
Spot Bitcoin technical analysis indicators in anticipation of an ETF approval
Fueling the conversation, a chart shared by TechDev shows bullish technical analysis indicators.
Notably, Bitcoin’s 2-month On-Balance-Volume (OBV) reached new highs, suggesting a new all-time high (ATH) could manifest within two months for BTC. The analyst also expects a price peak six to ten months after the forecasted ATH.
The approval of a spot Bitcoin ETF is expected to have a notable impact on Bitcoin’s price or valuation. Such a financial product would enable a broader investor base to gain Bitcoin exposure through traditional securities accounts. Potentially, this would enhance the legitimacy and stability of cryptocurrency as an asset class.
However, the cryptocurrency market is known for its volatility and unpredictability. Investors should exercise caution due to the inherent risks associated with cryptocurrency investments and speculation.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
Bitcoin has notched its highest-ever weekly close as crypto market momentum continues and the cryptocurrency is again nearing its all-time high.
Bitcoin (BTC) has closed at a weekly gain for the past six weeks in a row, and its most recent close at midnight UTC on May 18 was its highest weekly close ever at just below $106,500, according to TradingView.
Its last highest weekly close was in December when it reached $104,400. It later went on to reach an all-time high of $109,358 on Jan. 20, according to TradingView.
Bitcoin is now less than 3% away from its peak price and has gained 2% over the past 24 hours to trade around $104,730 at the time of writing.
Bitcoin also posted its highest-ever close in a 24-hour period on May 18. However, this is not the largest daily gain Bitcoin has made.
“Bitcoin just had its highest daily candle close… ever,” investor Scott Melker posted to X on May 19.
With a daily close above $105,000, “Bitcoin will develop a brand new higher high,” said analyst Rekt Capital.
Bitcoin’s weekly gains over the past six weeks are mirroring its gains in November when it added $30,000 in three of its largest weekly candles ever.
It has added around $12,000 so far in May, climbing from $94,000 to over $106,000 before it pulled back to around $105,400.
Related: BTC price to $116K next? Bitcoin trader sees ‘early week’ all-time high
Additionally, Arete Capital partner “McKenna” said the Coinbase premium had returned, which measures US sentiment by comparing the difference between Coinbase’s BTC/USD pair and Binance’s BTC/USDT equivalent.
The “strength of this bid on a Sunday night feels strange,” they said, adding its “possible someone knows some important news dropping next week.”
Bitcoin’s CAGR cools down
On May 18, analyst Willy Woo dived into Bitcoin’s compound annual growth rate (CAGR), noting that it was trending downward as the network continues to store more capital.
“BTC is now traded as the newest macro asset in 150 years, it’ll continue to absorb capital until it reaches its equilibrium,” he said.
Woo compared it to long-term monetary expansion of 5% and GDP growth of 3%, estimating that Bitcoin’s annual growth rate will be around 8% in around 15 to 20 years when it has settled.
“Until then, enjoy the ride because almost no publicly investable product can match BTC performance long term, even as BTC’s CAGR continues to erode.”
Magazine: Arthur Hayes $1M Bitcoin tip, altcoins ‘powerful rally’ looms: Hodler’s Digest
New regulations threaten the security of the personal data of cryptocurrency users and may expose them to “physical danger,” the platform at the center of last week’s Paris kidnapping attempt has claimed.
“A ticking time bomb,” said Alexandre Stachtchenko, director of strategy at French platform Paymium, referring to the way information must now be collected during cryptocurrency transfers under EU rules.
He did not directly link this to a kidnapping attempt on Tuesday which, according to a police source, targeted the daughter and grandson of Paymium’s chief executive.
“If there is a leak of one of these databases from which I can find out who has money and where they live, then the next day it is on the dark web, and the day after there is someone outside your home,” Stachtchenko said. Data theft is commonplace. On Thursday, the leading cryptocurrency exchange in the United States, Coinbase, said criminals had bribed and duped their way into stealing digital assets from its users, then tried to blackmail the exchange to keep the crime quiet.
Instead of paying up, Coinbase informed US regulators about the theft and made plans to spend between $180 million and $400 million to reimburse victims and handle the situation.
Following the kidnapping attempt, Paymium issued a statement urging authorities to immediately reinforce the protection of companies within the sector, after other similar incidents this year.
Founded in 2011 and presenting itself as a European pioneer of bitcoin trading, Paymium also cited “the highly dangerous aspects of certain financial regulations, either recently adopted or in the making.”
It added, “With the unprecedented organization of massive and sometimes disproportionate collection of personal data, public authorities contribute to putting the physical safety of millions of cryptocurrency holders in France, and more widely in Europe, at risk.” In its sights are rules which came into force at the end of 2024 and which extended the Travel Rule in place for traditional finance transfers to include crypto assets.
The rules now require platforms to gather details about the beneficiary and, in return, transmit certain information about the customer to the receiving institution, including their name and postal address.
Also to be disclosed is the “address” of a customer’s cryptocurrency wallet, which shows details of their account and transactions, said Stachtchenko.
Such sensitive data is sometimes exchanged and stored insecurely by certain players.
Regulatory changes to tighten the rules on the crypto sector aim to “prevent the financial system from being used for corruption, money laundering, drug trafficking” among other criminal activities, said Sarah Compani, a lawyer specializing in digital assets.
Data collection is carried out by parties including banks, insurance companies and crypto-service providers, which are “supervised” and subject to heavy “security obligations, particularly IT and cybersecurity,” said William O’Rorke, a lawyer at cryptocurrency firm ORWL.
In 2027, European anti-money laundering regulations will restrict the use of wallets and cryptocurrencies that allow the holders to remain anonymous.
It follows a French law adopted last month to fight narcotrafficking, which targets anonymization devices such as the cryptocurrency “mixers” used to render funds untraceable.
There are many “legitimate interests” in having such tools however, said cybersecurity expert Renaud Lifchitz. He noted that they are sometimes used by journalists, or by activists opposed to an authoritarian regime which controls the traditional banking system.
The debate is more “political” than “security-related,” argued O’Rorke.
The recent kidnappings and attempted kidnappings can be explained above all by a “somewhat nouveau riche” and “ill-prepared” cryptocurrency sector, he said.
Since 2014, software developer Jameson Lopp has recorded 219 physical attacks targeting cryptocurrency users.
© 2025 AFP
Citation:
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no
Cryptoeconomy enabler Coinbase Global (COIN) rallied 16% over the past five days to celebrate its public listing on the S&P 500 index, scheduled for next week.
Coinbase’s addition to the S&P 500 marks a historic milestone as the first cryptocurrency exchange included in the index, symbolizing a step toward mainstream acceptance of crypto. This move is expected to boost institutional interest and attract new capital, especially through passive funds that must buy S&P 500 components, effectively making Coinbase and, by extension, Bitcoin (BTC), a “must-own” investment.
However, while rosy developments are nice to see for existing shareholders, I remain neutral on the stock due to risks like potential overvaluation, declining earnings, revenue concentration, and increasing competition.
Bernstein analyst Gautam Chhugani, who holds a Buy rating on Coinbase, estimates that its inclusion in the S&P 500 could attract approximately $16 billion in passive and active fund inflows, potentially boosting the stock further. However, with Coinbase’s market capitalization already having surged by $10 billion, much of this anticipated inflow may be priced in. The focus now shifts to the company’s underlying fundamentals.
Coinbase earns revenue through transactions, subscriptions, and services, mostly coming from transaction fees such as spreads and retail trading fees. In its Q1 2025 earnings report published earlier this month, Coinbase saw a 10% decline in trading volume, leading to total revenue of $2 billion—a 10% drop quarter-over-quarter—and transaction revenue falling 19% quarter-over-quarter to $1.3 billion. The company attributed this decline to crypto market volatility and ongoing uncertainty. Ultimately, much of Coinbase’s performance remains closely linked to the health and activity of the cryptocurrency market.
Widespread adoption of cryptocurrency will inevitably require government involvement. Crypto enthusiasts hoped President Donald Trump, a vocal supporter of cryptocurrencies, would help legitimize the space. However, meaningful legislation has yet to materialize, and Trump’s so-called “Strategic Bitcoin Reserve,” which doesn’t involve actual cryptocurrency purchases, fell short of expectations.
Best Austin Salads – 15 Food Places For Good Greens! President Trump takes on 'Big Pharma' by signing executive order to lower drug prices As Harvard Battles Trump, Its President Will Take a 25% Pay Cut In-N-Out Burger adds three new California locations to list of 2025 openings DHS says Massachusetts city council member 'incited chaos' as ICE arrested 'violent criminal alien' Why Trump Suddenly Declared Victory Over the Houthi Militia Mexico is suing Google over how it’s labeling the Gulf of Mexico Republicans say they're 'out of the loop' on Trump's $400M Qatari plane deal
Name and address
‘Nouveau riche’
Paris kidnap bid highlights crypto data security risks (2025, May 18)
retrieved 18 May 2025
from https://techxplore.com/news/2025-05-paris-kidnap-highlights-crypto.html
part may be reproduced without the written permission. The content is provided for information purposes only.
‘Highest 2 Lowest’ Review: Denzel Washington and Spike Lee Reunite in Dazzling Thriller Suffused With Lush New York City Vibes
CBS News President McMahon to Step Down, Memo Shows
Maps: 3.8-Magnitude Earthquake Strikes Southern California
The Supreme Court Order
We Tried Three Doctor-Approved, Ozempic-Friendly Recipes | Woman's World
Why Marjorie Taylor Greene was ‘kicked out’ of the Freedom Caucus according to Rep. Buck
Colorado Rockies game no. 116 thread: Zac Gallen vs José Ureña
See it: Tesla crashes into Columbus convention center at 70 mph
Fox News Politics: Georgia the whole day through
Death of missing Oregon girl found in stream ruled homicide
Maps: 3.8-Magnitude Earthquake Strikes Southern California
Trump, alongside first lady, to sign bill criminalizing revenge porn and AI deepfakes
Digitisation fronts new Commission strategy to boost EU single market
Pope Leo XIV receives White House invitation in meeting with JD Vance
Video: Mexico Navy Sailing Ship on Good Will Tour Crashes Into Brooklyn Bridge
