The cryptocurrency market digest (BTC). Overview for 29.09.2023


The BTC exchange rate on Friday rose to 26,969 USD.

Earlier, the SEC chair addressed the House of Representatives. He faced questioning from Congress but stood firm in his stance. The SEC maintains that the majority of crypto assets should be regulated as securities, although this does not apply to BTC.

At present, there don’t seem to be any evident fundamental factors prompting buying interest, implying that the market may depend on technical signals.

To trigger a local growth trend, the flagship cryptocurrency needed to breach the 26,500 USD resistance, which it successfully accomplished. Against this background, the growth target is set at 27,500 USD, with a more significant resistance level in the range of 27,750-27,800 USD.

The total cryptocurrency market capitalisation has risen to 1.07 trillion USD. BTC’s share has increased to 49.0%, while the share of ETH has increased to 18.5%.

PayPal shows interest in NFTs

Payment giant PayPal has filed an application to obtain a patent for a unique NFT purchase and transfer system. The system is designed to enable transactions outside the network on an NFT marketplace.

VanEck launches Ethereum Strategy ETF

The VanEck asset management company has announced the launch of an Ethereum Strategy ETF fund. The CFTC will serve as the regulatory authority. Similar instruments are currently only available through CME. The exact date of the fund’s launch has not been disclosed yet.

Source: Roboforex

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