Bitcoin Price Prediction: BTC at $40,100 Amid ETF Accumulation and SEC Decisions
In the In the dynamic world of cryptocurrency, Bitcoin’s price prediction remains a topic of keen interest. As of recent observations, Bitcoin is trading around $40,104, marking a decrease of 2.80%. This movement comes amidst significant events in the crypto space, including the involvement of major ETFs like Blackrock and Fidelity in Bitcoin accumulation, holding nearly $2.6 billion in BTC.
Concurrently, developments such as Congresswoman Maxine Waters’ concerns about Meta’s crypto pursuits and the majority sale of FTX estate’s Grayscale Bitcoin Trust shares add layers to the market’s complexity. Additionally, a recent legal decision to reject the SEC’s new discovery requests concerning XRP adds another dimension to the cryptocurrency narrative.
Rep. Maxine Waters, noting the company’s five active trademark filings pertaining to digital asset services and blockchain technology, has voiced worries over Meta’s (previously Facebook) continued efforts to enter the cryptocurrency space.
Waters drew attention to the disparity between Meta’s patent filings and its declaration to the Financial Services Committee that it had no active initiatives pertaining to digital assets, in a letter addressed to Meta’s COO Javier Olivan and CEO Mark Zuckerberg.
Congresswoman Maxine Waters Questions Meta’s Ongoing Crypto Effortshttps://t.co/MBhddMF3Nu
— valkyrie (@valkyrieXRP25) January 23, 2024
Growing regulatory apprehensions regarding Big Tech’s engagement in the digital assets space are reflected in this scrutiny. Although this revelation relates particularly to Meta’s activities, heightened regulatory scrutiny of large tech companies could exacerbate the general sense of caution in the cryptocurrency industry and so impact the price of BTC.
