Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
Home»BLOCKCHAIN NEWS»Evidence of Traditional Financial Participation in Bitcoin – Blockchain News, Opinion, TV and Jobs
BLOCKCHAIN NEWS

Evidence of Traditional Financial Participation in Bitcoin – Blockchain News, Opinion, TV and Jobs

By Crypto FlexsNovember 25, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Evidence of Traditional Financial Participation in Bitcoin – Blockchain News, Opinion, TV and Jobs
Share
Facebook Twitter LinkedIn Pinterest Email

Last week, Bitcoin (BTC) closed at around $37,000, up 5.9% from the previous week’s closing price of $35,000. This week saw strong price action as we witnessed BTC fluctuating with consecutive daily price increases from Monday to Friday. The highest trading price was observed on Thursday, reaching nearly $38,000. After this peak, prices fell slightly, stabilizing around $37,000 from Friday into the weekend.

BTC dominance, which measures Bitcoin’s market capitalization relative to the overall digital asset market, has declined for the second week in a row to about 52.3%. This is a 0.7% decrease from the previous week, highlighting the continued dispersion of liquidity among speculative assets. This characterizes the phase when investors express confidence and trust in the market and engage in riskier trades.

Trading activity continued to surge, with cumulative daily trading volume on centralized exchanges (calculated by a 7-day moving average) reaching $31.4 billion. The figure, the highest since late March, reaffirms that the recent uptick has been driven by strong trading activity.

What is noteworthy is the significant involvement of traditional finance in the recent upward trend. For the first time, BTC open interest on the Chicago Mercantile Exchange (CME) exceeded 100,000 contracts, surpassing Binance to become the leader in BTC open interest. The strong presence of these traditional financial investors is also evident in the discount rate for Grayscale Bitcoin Trust (GBTC), which is currently at 10.3%, the lowest since August 2021.

The increase in traditional financial activity related to BTC highlights the confidence market investors currently have regarding the approval of a future BTC spot ETF. It is important to note that the first final deadline for SEC decisions regarding the 21Shares BTC spot filing is scheduled for January 10, 2024. In most cases, the SEC will make a final decision (approval or rejection) to approve or reject all filings before this date to avoid giving any issuer a first-mover advantage. Additionally, filings for digital asset spot ETFs continue to occur, with recent news that Blackrock has filed for an ETH Spot ETF following Grayscale’s decision to convert the Ethereum Grayscale Trust (ETHE) into an ETH Spot ETF. A few weeks ago.

In particular, the surge in price and trading activity through traditional financial channels, the continued decline in GBTC discounts, and the notable net inflows observed in ETPs based on digital assets suggest that market investors are betting on approval. Securing approval from the SEC could lead to significant investments from traditional finance, bringing an influx of new investors that could strengthen and elevate digital assets to a more recognized asset class. Conversely, given the prevailing expectations favoring approval and the subsequent positioning of market participants to be highly influenced by these expectations, rejection could probably trigger a short-term recession.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Dreamcash starts the trading platform rollout with hyperclicade integration through waiting list.

August 6, 2025

Safe and expandable MCP server development: Main strategies and best practices

July 27, 2025

POLYMARKET will re -enter the United States after the acquisition of QCEX $ 112 million.

July 22, 2025
Add A Comment

Comments are closed.

Recent Posts

Stella (XLM) Eye 35% Rally and Ripple and SEC END 5 years legal battle

August 8, 2025

Builders Are Proving What’s Possible With CARV’s AI Stack

August 8, 2025

Caldera Announces Partnership With EigenCloud To Integrate EigenDA V2

August 7, 2025

Are Monero in danger? Five orphan blocks were found during the Cubic Mining War.

August 7, 2025

One Card To Seamlessly Bridge Web3 Assets And Real-World Spending

August 7, 2025

Coinbase’s USDC fee, encryption or other banks?

August 7, 2025

Protocol Update 001 -scale L1

August 7, 2025

As you challenge the mixed technology signal, OnDo Price Hovers challenges the August Bullish predictions.

August 7, 2025

XRP struggles for $ 3: Do Whale Offroads attract it lower?

August 7, 2025

Bybit’s Ben Zhou Charts Bold New Course To Rewrite Crypto Success At Mid-Year Keynote

August 6, 2025

Quantum advantage: Is the threat really?

August 6, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Stella (XLM) Eye 35% Rally and Ripple and SEC END 5 years legal battle

August 8, 2025

Builders Are Proving What’s Possible With CARV’s AI Stack

August 8, 2025

Caldera Announces Partnership With EigenCloud To Integrate EigenDA V2

August 7, 2025
Most Popular

Security Alert — Chromium Vulnerability Affecting Mist Browser Beta

March 13, 2024

Ethereum options open interest hits multi-month high, biased towards currencies: Analyst

February 22, 2024

Segregated Witness – How do pre-Segwit nodes interpret transactions containing Taproot OP_CHECKSIGADD?

April 26, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.