Bitcoin and Ethereum turmoil: ETF obstacles and legal hurdles
Recent events in the financial and crypto markets have revealed their interconnectedness. Bitcoin (BTC) is a dominant player in the market, often viewed as digital gold, while Ethereum (ETH) is a decentralized, open-source blockchain that supports smart contract functionality. In recent months, there has been significant price adjustments due to macroeconomic concerns. Subsequently, this has exposed the vulnerabilities of assets, including those of major cryptocurrencies, amidst global economic upheavals. However, analysts and experts link the recent price contraction to traders attempting to profit from the hype surrounding exchange-traded funds (ETFs). In this report, we investigate the behavior of BTC and ETH prices and provide a forecast of what should be expected. The Bitcoin saga: hope and disillusion Bitcoin’s abrupt descent to approximately $27,400 negated most of its gains when it briefly rallied above $28,000. As the CoinDesk Market Index fell 3.4% while BTC dropped...