BlockBriefly

Date: January 12, 2024

Market Cap 24h Change: -4.98%

Reason:

The market has been down by -4.98% because of the negative sentiment surrounding Bitcoin ETFs instigated by the regulatory authorities. As mentioned in the articles, Senator Elizabeth Warren criticized the SEC's decision on the Bitcoin ETF, on top of the concerns raised by South Korea's Financial Services Commission about local brokerage firms brokering foreign Bitcoin ETFs. The large activity of Bitcoin short-term holders and the Bitcoin crash prediction could have also exacerbated the downward pressure on the market. However, the exact impact of these developments on the overall market sentiment is not entirely clear from the articles.

Date: January 10, 2024

Market Cap 24h Change: 2.45%

Reason:

The market has been up by 2.45% because of the high anticipation around the approval of Bitcoin ETFs by the U.S. Securities and Exchange Commission as seen from various articles. The strong likelihood of Bitcoin ETF approval is signaled by recent updates from noteworthy's such as WisdomTree, Valkyrie, and BlackRock who have temporarily waived fees for their spot Bitcoin ETFs, and BitGo's in-principle approval to become a major payment institution in Singapore. However, the exact impact of these developments on the overall market sentiment isn't entirely clear from the articles.

Date: January 8, 2024

Market Cap 24h Change: 4.65%

Reason:

The market has been up by 4.65% because of the widespread anticipation around the imminent approval of Bitcoin ETFs. Several articles hint towards the increasing odds of Bitcoin ETF approval, triggering a positive market sentiment. Furthermore, substantial capital is being committed in anticipation of the ETF approval, as seen from VanEck's purchase of BTC and high inflows into crypto funds. However, the SEC Chair's cautionary advisory regarding crypto asset investments could induce some volatility. While these events set a positive tone for the market, the exact impact of this sentiment isn't entirely clear from the articles.

Date: January 6, 2024

Market Cap 24h Change: -0.40%

Reason:

The market has been down by -0.4% because of a mixture of uncertainties and cautious optimism surrounding Bitcoin ETFs. Several articles mention the nervy anticipation ahead of the U.S. Securities and Exchange Commission’s decision on the first spot Bitcoin ETF, underlining the fact that the outcome could swing the market in either direction. In addition, the unstaking of $470M in Ether by Crypto lender Celsius in anticipation of repayments seems to have caused some hesitation in the market. Despite these factors, the exact impact of these developments on the overall market sentiment is not entirely clear from the articles.

Date: January 4, 2024

Market Cap 24h Change: 2.21%

Reason:

The market has been up by 2.21% because of prevalent anticipation regarding Bitcoin ETFs. The articles suggest a positive sentiment, with mentions of Bitcoin ETF odds recovering, prominent ETF hopefuls like Grayscale and VanEck registering for exchange trade, and consistent optimistic view on the ETF approval. The overall sentiment for Bitcoin ETF approval seems strong, which could be driving the market up. However, the exact impact of this sentiment on the market isn't entirely clear from the articles.