Crypto News Roundup: Bitcoin Struggles, ETF Inflows, Ripple UAE License
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In the tumultuous world of cryptocurrency, Bitcoin finds itself once again grappling with the elusive 200-day SMA, a familiar foe in its storied history. Meanwhile, a glimmer of hope emerges as US Bitcoin ETFs witness a much-needed influx of $13.3 million from institutional players, breaking a streak of outflows. Senator Cynthia Lummis boldly introduces a bill for the US government to acquire a staggering 1 million Bitcoin over the next five years, a move that could potentially reshape the landscape of global Bitcoin adoption currently languishing at a mere 3%.
But wait, there's more! Wirehouses are poised to champion Bitcoin ETFs, paving the way for a new era of adoption among the elite. On the Ethereum front, the SEC nods to permit staking for Fidelity and Franklin spot Ethereum ETFs, a monumental step towards mainstream acceptance. Over in Solana territory, a foreboding death cross looms, hinting at a significant 30% downturn, sending ripples of uncertainty through the altcoin community.
In a surprising turn of events, the SEC opts to delay decisions on XRP, Solana, Litecoin, and Dogecoin ETFs, a move that may rattle the nerves of investors. Ocean Protocol makes waves by joining the Aether Cloud ecosystem, injecting fresh energy into the realms of AI and DeFi. Ripple secures a coveted license to offer crypto payments in the UAE, expanding its reach in the Middle East and beyond. As the crypto world continues its relentless march forward, one thing remains clear: the only constant is change.
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