Crypto Market Update 05-01-24

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Happy Friday everyone!

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We’ve been talking about this for months, and finally Bitcoin ETF was approved in the United States 🔥🔥🔥 Here’s your weekly recap 😎📰

Last 7 Days Market Performance 

Bitcoin is down 0.7%, now at $ 43,351.00 📉

Ethereum is up 16.0%, now at $ 2,594.00 📈

Total crypto market cap: $ 1.78 Trillion

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Fact for the week 🤔:

👩❤️👨 This one goes for the singles. In Japan, a record 34.1% of adults between the ages of 20 and 49 have never been in a romantic relationship, and more than 25% have no intention of getting married, according to a survey! The Cupid's arrows are definitely missing their mark in the Land of the Rising Sun 💘
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Onto this week’s updates 🚦

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🔴 Vanguard Rejects Bitcoin ⛔

It seems that not everyone is happy with the approval of the Bitcoin ETF. Vanguard is one of the world's largest investment companies and they will be denying their clients access to the newly approved Bitcoin ETF’s. The reason seems to be that Vanguard does not consider Bitcoin suitable for their investment strategy, which prioritizes traditional assets like stocks, bonds, and cash for long-term stability. Vanguard has assets worth more than $8 trillion 😬
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🟡 Ether Surges In ETF Hopes 🤞

In a typical buy the rumours, sell the news event, after Bitcoin ETF was approved, the biggest winner was Ether (Ethereum token). Well this happened because investors are now anticipating that if the Bitcoin ETF had the greenlight, next it's Ether’s turn. This is a major classic in finance, you buy the rumours and sell the news, like it’s happening today with Bitcoin. However, we’re anticipating this is a short term movement for Bitcoin, and that it will return to its positive riding shortly. 📈
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🟢 Bitcoin ETF Approved 🔥🔥🔥

Wednesday marked one of the most important moments in the history of Bitcoin. The world of traditional finance opened up to the “Digital Gold” and welcomed it, with Bitcoin now beginning to be traded by the world's richest qualified and institutional investors. Bitcoin is now a mainstream asset, opened to trillions of dollars of investment in the world's largest economy. 🔥🔥🔥

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🎬 Well, I think we all knew it would come sooner than later, but what a way to start the year! Bitcoin is the world's buzzword and this is just the beginning of the story of this fascinating asset. 🚀

Get your Bitcoin, or parts of it, at lympid.io ✅

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Lympid: Crypto interests on a trusted, regulated platform

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Talk next week 👋