$Bitcoin (BTC.CC)$ topped $70,000 Monday and $Ethereum (ETH.CC)$ rallied on strong spot-Bitcoin ETF weekly inflows and a bombshell development that spot Ethereum ETFs might soon win U.S. regulatory approval.
Prices as of 4 p.m. Eastern Time:
Cryptocurrency | Price | Gains +/- |
Bitcoin (CRYPTO: BTC) | $70,115.06 | +5.9% |
Ethereum (CRYPTO: ETH) | $3,443.39 | +11.9% |
Solana (CRYPTO: SOL) | $187.19 | +10.2% |
Dogecoin (CRYPTO: DOGE) | $0.1576 | +5.8% |
Shiba Inu (CRYPTO: SHIB) | $0.00002508 | +5.4% |
Prices rose after Bloomberg Senior ETF Analysts Eric Balchunas and James Seyffart sent markets into a frenzy by updating their Ethereum ETF approval odds to 75% from an earlier 25%.
Balchunas attributed the pivot to "chatter" that the Securities and Exchange Commission "could be doing a 180," for potentially political reasons.
Update: @JSeyff and I are increasing our odds of spot Ether ETF approval to 75% (up from 25%), hearing chatter this afternoon that SEC could be doing a 180 on this (increasingly political issue), so now everyone scrambling (like us everyone else assumed they'd be denied). See...
— Eric Balchunas (@EricBalchunas) May 20, 2024