20 May Crypto News- Today’s Developments In The Crypto Markets
Crypto News– Bitcoin might be on the verge of a significant price surge, according to researcher Markus Thielen. The decision to approve or deny spot Ether exchange-traded funds (ETFs) will likely be made by a five-commissioner panel at the U.S. Securities and Exchange Commission (SEC), with the deciding vote potentially coming from Chair Gary Gensler. Meanwhile, crypto exchange Kraken denies having any plans to drop support for Tether in Europe.
10x Research Predicts Bitcoin Surge Beyond $67,500 Could Lead to New All-Time Highs
Bitcoin’s price could begin rallying to new all-time highs if it decisively rises above the crucial $67,500 mark. This level serves as a significant resistance line for Bitcoin, which could influence its price action in the coming weeks, according to a May 20 report by Markus Thielen, the head of research at 10x Research.
These predictions follow a notable recovery of Bitcoin’s price above the psychological $66,000 level. Over the past week, the world’s first cryptocurrency has risen by more than 7.3%, according to TradingView.
The decision on spot Ether ETFs will be made by a vote from a five-member panel
The fate of spot Ether ETFs could be determined this week, potentially by a single vote from SEC Chair Gary Gensler, if history is any guide. In January, the approval of spot Bitcoin ETFs was decided by a five-commissioner panel. Two crypto-friendly commissioners, Hester Peirce and Mark Uyeda, voted in favor of the ETFs, while Commissioners Caroline Crenshaw and Jaime Lizárraga voted against them.
Gensler also voted to approve the ETFs, leading many to believe his vote was pivotal in securing the approval of spot Bitcoin ETFs, which passed with a 3–2 vote on January 10.
The same five SEC commissioners are scheduled to cast their votes on May 23 to either approve or deny VanEck’s spot Ether ETF.
Kraken refutes claims of dropping USDT support in Europe, for now
Cryptocurrency exchange Kraken has no plans to delist Tether (USDT) in Europe at the moment, despite a recent report suggesting the firm was actively reviewing its options to stay legally compliant.
In a May 18 X post, Mark Greenberg, Kraken’s global head of asset growth and management, stated, [Kraken] continues to list USDT in Europe and we have no plans to delist at this time.
Greenberg reiterated that the firm will comply with all legal requirements, even those it disagrees with. But the rules are not finalized yet, and we continue to do everything we can to offer all relevant stablecoins to our European customers, he added.
More Than 80% of Recent Binance Token Listings Are in the Red
Over the past six months, more than 80% of new token listings on Binance have declined in value since their listing date, according to crypto and macro researcher Flow. Out of the 31 tokens analyzed, only five have appreciated: Memecoin (MEME), Ordi (ORDI), Solana-based Jupiter (JUP), Jito (JTO), and Dogwifhat (WIF), as noted in Flow’s May 17 X post.
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