The BTC dropped to 3,0119 USD by Friday.
Investor activity decreased after the BTC breached the 31,000 USD mark. However, there are still reasons for the cryptocurrency to continue rising. Once the market secures above 31,150 USD, it is expected to head towards 33,000-34,000 USD.
According to the latest news, the BlackRock fund has initiated licensing with the SEC to launch a BTC-based spot ETF in response to client demand. This explains the active lobbying for similar interests. Fidelity and others are likely to also be rallying behind this movement.
The cryptocurrency market capitalisation has fallen to USD 1.170 trillion. The share of BTC has increased to 49.9%, while the share of ETH has fallen to 19.0%.
SEC designates DASH as a security
The US Securities and Exchange Commission has recognised DASH as an investment contract and a regulated financial product. Based on the Howey test results, the Commission found that investors intended to make financial gains related to the company's performance. DASH is therefore considered an unregistered security and falls under SEC regulation.
The NFT sector posted strong weekly results
The market for non-fungible tokens (NFTs), performed well during the week. Uncategorized Ordinals transactions increased in volume by 39%. sales of the popular Bored Ape Yacht Club (BAYC) collection reached 18.5 million USD in seven days. This represents an increase of 63.3% compared to the previous week.