Bitcoin’s Price Potential: $90K Target in Sight? Solana ETFs and More – Nov. 17-23 Digest
Bitcoin enthusiasts are eagerly watching the market, wondering if the cryptocurrency will reach $90,000 once again. Meanwhile, the US Securities and Exchange Commission Chair Gary Gensler has announced his resignation, setting the stage for some changes in the cryptocurrency world.
In other news, regulatory filings for Solana ETFs are pouring in, with the Cboe BZX Exchange submitting four 19b-4 filings for asset managers to list spot Solana exchange-traded funds. If approved, these ETFs will be listed on the Cboe BZX Exchange, adding to the growing list of cryptocurrency investment options.
FTX, a collapsed crypto exchange, has updated its timeline for creditor and client reimbursements. Initial payouts are expected in March 2025, with the process set to be finalized in January 2025. The FTX team is working diligently to maximize recoveries and return proceeds to creditors and customers as swiftly as possible.
SEC Chair Gary Gensler is preparing to step down in January 2025, marking the end of his tenure as a prominent figure in cryptocurrency regulation. This change comes as President-elect Donald Trump is set to begin his second term, creating uncertainty for the future of cryptocurrency regulation in the United States.
MicroStrategy has raised $3 billion to purchase more Bitcoin, despite a recent drop in its stock value. The business intelligence firm plans to use the proceeds to bolster its Bitcoin holdings, showcasing a continued interest in cryptocurrency investments.
Coinbase CEO Brian Armstrong is reportedly meeting with President-elect Donald Trump to discuss personnel appointments. Speculation abounds about the potential role of Coinbase executives in the upcoming administration, highlighting the growing intersection of cryptocurrency and government affairs.
As the week comes to a close, Bitcoin is priced at $98,877, Ether at $3,319, and XRP at $1.47. Stellar, Hedera, and Mantra were the top three altcoin gainers, while Peanut the Squirrel, Goatseus Maximus, and Popcat were the top three altcoin losers of the week.
Overall, the cryptocurrency market continues to evolve, presenting both challenges and opportunities for investors and enthusiasts alike. Stay tuned for more updates and insights on the ever-changing world of cryptocurrency.
