Markets Daily Crypto Roundup
Crypto Update | Why Coinbase Analyst David Duong Expects to See 'Continued Upside' in Bitcoin
Mar 25, 2024
In this episode, Coinbase Head of Institutional Research, David Duong, discusses the recent crypto market price action, spot bitcoin ETFs, halving event impacts, and the likelihood of spot ether ETF approval. They explore comparisons of Bitcoin cycles, Genesis selling pressure, Wall Street Journal's credit proposal, and positive Bitcoin outlook. Uncertainties around an ether ETF approval are also discussed.
13:11
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Quick takeaways
- Likelihood of ETH ETF approval dropped, but still favorable unless SEC declares it a security.
- Spot Bitcoin ETFs impacting market dynamics with net outflows and institutional influence highlighted.
Deep dives
Probability of ETH ETF Approval Decreases
The likelihood of an ETH ETF being approved has significantly dropped from around 80% a year ago to approximately 17% to 20% currently. Despite this decrease, the speaker maintains that the odds are still favorable and believes rejection would only occur if the SEC unmistakably labels it as a security, contradicting the CFTC's classification as a commodity.
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