Financial Insights That Matter
Bitcoin (BTC) hovers around $97,400 on Friday after losing nearly 5% in the last three days. Ethereum (ETH) and Ripple (XRP) fail to recover and face rejection from their key levels, hinting at further corrections.
Bitcoin price faced a pullback, reaching a low of $91,231, but quickly recovered to close above $101,300 on Monday. However, it failed to maintain its recovery and declined nearly 5% in the next three days. At the time of writing on Friday, BTC trades at around $97,000.
Ripple’s XRP was in the limelight on Thursday following the Chicago Board Options Exchange (Cboe) 19b-4 filing to the Securities and Exchange Commission (SEC) to list and begin trading XRP exchange-traded funds (ETFs) for asset managers Canary Capital, WisdomTree, 21Shares and Bitwise. Likewise, the SEC acknowledged the New York Stock Exchange’s (NYSE) 19b-4 filings for Grayscale’s Solana and Litecoin ETFs.
Crypto ETFs gain ground as XRP, Solana and Litecoin ETFs see progress. Cboe has filed a 19b-4 with the SEC to list and trade XRP ETFs from asset managers Canary Capital, Bitwise, 21Shares and WisdomTree. This marks a step of progress in the spot XRP ETFs race.
Ethereum (ETH) is down 3% on Thursday as developers agreed that the Pectra upgrade will officially launch on the Holesky and Sepolia testnets in February and March. Meanwhile, ETH could test the upper boundary line of a key descending channel if it sustains a firm move above the $2,817 level.
Pectra upgrade to potentially launch in April. In its All Core Developers Consensus (ACDC) call #150 on Thursday, Ethereum developers agreed on official dates for the Pectra upgrade to go live on testnets, with a potential mainnet upgrade set for April.
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