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CoinDesk Podcast Network
MARKETS DAILY: Crypto Update | Is Coinbase's Influence in the Bitcoin ETF Market Cause for Concern?
Mar 21, 2024
Discussions on recent price movements of Bitcoin and Ether, the SEC's classification of Ether, Coinbase's influence in the Bitcoin ETF market, Decentralization in custody services, the future of Dogecoin, approval of Ethereum futures, and Michael Saylor's Bitcoin holdings.
12:33
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Quick takeaways
- Bitcoin and Ether surged after Fed's stance, signaling market optimism.
- SEC's uncertain classification of Ether and Coinbase's dominance raise regulatory concerns in crypto market.
Deep dives
Market's Reaction to Fed's Remarks
The crypto market experienced a significant rally after the Fed's dovish remarks, with both Bitcoin and Ether showing notable gains. This surge was fueled by the market's positive response to the Fed's stance following a previous hot CPI print that had left traders cautious. Bitcoin miners and other heavily shorted assets saw substantial upticks as market participants adjusted their positions based on the Fed's messaging.
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