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Bitcoin Bounces 6%, Threatens $38K; 'Good Times Are Here,' Analyst Says, NYDFS Rolls Out Stricter Guidelines for Cryptocurrency Listings, De-listings, & more.

Nov 16, 2023

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Bitcoin Bounces 6%, Threatens $38K; 'Good Times Are Here,' Analyst Says

Cryptocurrencies Wednesday roared back from yesterday's drubbing, with bitcoin (BTC) nearing a new 18-month high just shy of $38,000 after tumbling below $35,000 at one point on Tuesday.
Ether (ETH) advanced more than 3% to near $2,060, retaking the $2,000 level after yesterday's fall to nearly $1,900.
Native tokens of layer 1 blockchains Solana (SOL) and Avalanche (AVAX) led gains among altcoins, with 18% and 23% jumps during the day, respectively.

"Bitcoin is going mainstream, and the bear is behind us," Charlie Morris, founder of investment advisory firm ByteTree, said in a Wednesday market report. "The good times are here."
ByteTree highlighted BTC's strong showing compared to traditional assets such as U.S. equity indexes and gold, which have also been advancing.
"Bitcoin’s trend is not only strong in dollars, but strong against other key assets," Morris noted. "This is important for institutional adoption because they don’t buy alternative assets unless there’s a little extra return."
Morris also noted the strengthening trend of altcoins as the market breadth improved after a grueling two years of crypto winter.

Full Article

NYDFS Rolls Out Stricter Guidelines for Cryptocurrency Listings, De-listings

The New York State Department of Financial Services (NYDFS) has said it strengthened its guidelines for listing or de-listing cryptocurrencies in a move to beef up protections for crypto investors throughout the state, NYDFS Superintendent Adrienne A. Harris said Wednesday in a statement.
The updated guidelines will require crypto companies to submit their coin listing and delisting policies for NYDFS approval. The firms' policies will be measured against more stringent risk assessment standards to ensure that de-listings occur "in an orderly way that protects consumers and minimizes market disruption," according to the statement.
“This guidance continues the Department’s commitment to an innovative and data-driven approach to virtual currency oversight, keeping pace with industry developments,” Harris said.

Full Article

SEC Delays Decision on HashDex Bitcoin Spot ETF Application, Grayscale Ether Futures Filing

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