Ethereum
Why Lawmakers “Can’t Ignore Crypto”
The cryptocurrency market is booming, with bitcoin prices (BTC-USD) and Ethereum (ETH-USD) booming due to the potential introduction of new cryptocurrency legislation. Anticipation also builds around approval of spot ether ETFs, fueling investor optimism for digital assets.
Yahoo Finance Jared Blikre breaks down the details.
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This post was written by Angel Smith
Video transcription
Bitcoin and Ethereum are trending higher this week, Jared Blick stands ready to take a closer look at the latest developments in crypto.
Jared.
That’s right.
It’s been pretty quiet over the past 24 hours on our crypto heatmap behind me.
We’ll get it back.
You can see Bitcoin going up 42 basis points.
Ethereum top right up 33 basis points.
Let me just show you the last five days.
We have witnessed an incredible explosion of Ether.
Um, it’s within the last three days.
It was Monday afternoon, word that these Ethereum spot, Ether Bitcoin, Ether spot ETF are finally potentially coming to market.
And that would mark an about-face for the second.
And all this happened after this crisis.
House Bill 21 has passed the House of Representatives and it looks like it could make its way to President Biden’s desk, and it looks like he could sign it.
Now he is opposing it.
But all this controversy has only reinforced the fact that parties, two of which are Republican and Democratic, cannot ignore crypto.
Cryptocurrency is therefore on the agenda and we will have to see how it evolves throughout the elections.
But you have to think that there will be favorable discussions, but these are only speculations.
Let’s take a look at Bitcoin prices.
If we show the year-to-date, we can see that Bitcoin is now at the upper end of its most recent trading range and has not made new highs since March, but this appears to be a healthy consolidation.
We’ll have to see if we can gather steam on the next potential catalyst.
I want to check what happened and show what happened with ETF S as well.
We have a plethora of Spot Bitcoin ETF S and also a few futures based ETS including Ethereum and here is a performance today.
Um, I just note that we’ve seen an incredible explosion of some of these individual names.
I bet it’s Blackrock’s offering and loyalty as well.