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On Thursday, key crypto assets managed to make some gains in Asia having lost ground for two days.
As a matter of fact, an actively discussed Bitcoin exchange-traded fund currently scrutinized by US Securities and Exchange Commission gained some adverse feedback.
Eventually, Bitcoin managed to break past the $4,000 mark, thus recording a one-week maximum. The number one digital coin jumped by 1.21% hitting $4,045. As for other digital currencies, they tacked on too. Besides this, Ethereum surged by 1.10% concluding the trading session at $139.08. As for XRP, it rallied by approximately 1.19% showing an outcome of $0.31678, while Litecoin headed north by about 1.95% being worth $60.113.
The SEC had obtained generally negative feedback on a proposed rule change for the Bitcoin ETF by investment company VanEck as well as financial services company SolidX. In fact, 6 out of 7 remarks the SEC received made the watchdog refrain from approving the proposal.
One remark had to do with Bitcoin’s lack of value as an asset, its wild volatility as well as market manipulation. Another comment made the watchdog take a watch and wait stance.
Previously, Jay Clayton, SEC chairman told that there might be a case where a Bitcoin ETF could have their rules satisfied. However, it’s unknown how the SEC’s approach to the issue will change after getting those remarks.
In addition to this, Switzerland officially approved a move to adapt the current provisions on procedural instruments of judicial as well as administrative authorities just to make them applicable to digital coins.
The given move is highly expected to protect crypto enthusiasts from illegal activities, including money laundering and extortion.
During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?
The US unemployment claims are announced on Thursday at 15:30 MT time.
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
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