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The cryptocurrency market digest (BTC, USDT). Overview for 17.11.2023

17 november 2023 - Fx4News

The BTC rate is balancing around 36,422 USD by Friday.

Yesterday, the market was buying, but, as it seems, the growing momentum has vanished. There were reasons for this. Meanwhile, technical levels are still relevant: first, the quotes need to establish a foothold near 38,000 USD, and then make an impressive push towards 42,000 USD.

Currently, there is a shift in seasonal cycles, transitioning from a rising to a falling one. It might be brief, but BTC needs to maintain its position within the 35,000-37,000 USD range. This is necessary to quickly resume purchases.

The cryptocurrency market capitalisation has risen to 1.40 trillion USD. BTC's share has expanded to 51.1%, while ETH's share has decreased to 17.1%.

The SEC postpones decisions on licensing for Bitcoin ETFs

The US Securities and Exchange Commission (SEC) has postponed decisions on licensing applications from Grayscale and Hashdex for the launch of spot bitcoin ETFs until 1 January 2024. A total of 12 such applications have been submitted. It seems that there might not be any significant news on this matter until the end of 2023.

USDT may face delisting

The cryptocurrency market is actively discussing the possibility of delisting the USDT stablecoin. The reason lies in the publication of the new listing guidelines issued by the New York financial regulator. Specifically, it is stated that venture companies cannot independently certify stablecoins that are not on the green list. Currently, the USDT token is not on this list.

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