Will BTC surpass its ALH and move forward to newer heights?

Dear Readers,

What a fantastic run to start for this week for the crypto markets.

At the time of writing this article, the global cryptomarket stands at 2.52 Trillion USD which is a higher of 5.23 % from yesterday.

The fear greed index is at 90 which is extreme greed.

BTC trades 68323 USD while ETH trades at 3630 USD.

There was a wide range of momentum and joy for all the holders who bought the crypto leaders at the lower price and the fantastic run for about a month. 

Many would be confused to invest at the peak of BTC at this point in time. 

Many crypto market analyst would suggest that before the halving period, investing in BTC is always a good decision.

BTC is trading just <1% to touch its All time High.

This is the first halving BTC witnessed with the presence of BTC ETFs. 

This is also the very first time for all the analysts to predict the charts and prices of BTC with the heavy investments on BTC from the ETF houses. 

BTC exceeded the $1.3 trillion market capitalization threshold and is swiftly approaching to match and surpass the silver’s market cap of $1.4 trillion.

The approval of ETH ETF in a similar way of BTC also cooked up in the price of ETH along with the Duncun upgrade.

This ETH Dencun Upgrade is expected as a crucial point in Ethereum’s efforts to improve scalability and efficiency in its operation, which certainly push the way forward for increased usage and improved capabilities in the network which everyone loves.

But there has been a delay on this decision. 

The SEC’s recent filing shows that a decision of delay on BlackRock’s application for the iShares Ethereum Trust.

This has been initially filed on November 21, 2023, the proposal seeks to list and trade shares of the Trust under Nasdaq Rule 5711(d), which governs Commodity-Based Trust Shares. 

The SEC’s decision, originally expected by January 24, 2024, But that has been extended for the second time, with the reason of conducting a more in-depth analysis of legal and policy considerations.

Let's wait for the monthly CPI data and the FOMC meeting in the coming days which may drive the markets. 

Overall the present market is all set for showing all uptrends.

Nevertheless, crypto markets are unpredictable always!