Bitcoin Slumbers as ETF Hopes Simmer; PEPE Leads Altcoin Gains – Yahoo Finance


Bitcoin (BTC) and ether (ETH) traded flat on Monday after a relatively uneventful weekend for crypto majors in the absence of a strong catalyst that could help add buying pressure to a dim market.
Bitcoin traded just over $29,300 while ether flirted around the $1,850 mark. Both assets have returned slightly over 1% for investors in the past week – making it one of the lowest volatility periods.
The bitcoin lull meant most majors and mid-cap tokens, such as cardano's ADA, solana's SOL and lido (LDO) moved similarly little, with sudden movements getting sold off quickly and no major declines.
The lack of market movement has possibly led traders to meme coins such as shiba inu (SHIB) and pepe (PEPE), data analytics firm Santiment said in a Saturday report. Such rallies often mark local market tops – with record open interest in SHIB futures blaring a likely warning sign for bullish bitcoin moves in the coming weeks.
“Historically, we need to be aware that surges from speculative assets that really only see minimal development activity (at best), this can often signal that the entire crypto market may be veering toward 'overheated' territory,” Santiment said.
Meanwhile, some market traders say an ETF ruling could bring back the infamous volatility of the crypto market.
“While the options market's expected volatility (DVOL) remains notably low, we are observing a slight uptick in BTC, especially visible versus ETH,” shared Deribit chief commercial officer Luuk Strijers in an email. “A potential catalyst for this could be the looming ETF news on the shorter term and the halving impact on the longer run.
“Although the chances of imminent ETF-related news are slim, any announcement would likely have a more pronounced effect on BTC than on ETH,” Strijers added.

The metaverse-focused layer 1 blockchain, dreamed up by science-fiction author Neal Stephenson and blockchain expert Peter Vessenes, is launching the Lamina1 Hub for Web3 builders and creators.
Bitcoin is seeing a period of historically low volatility. The absence of movement despite catalysts is beginning to look troubling to analysts.
Storing crypto on an exchange risks theft and hacks. But DIY can also be perilous — just ask the guy who accidentally trashed a hard drive and his Bitcoin fortune.
Crypto lender Celsius Network on Monday received a U.S. bankruptcy judge's permission to seek creditor approval for its bankruptcy plan, advancing a proposal to exit Chapter 11 as a new entity owned by its creditors. Judge Martin Glenn signed off on Celsius's disclosure statement and solicitation materials at a U.S. Bankruptcy Court hearing in Manhattan, saying Celsius had given creditors sufficient information to vote on the proposed restructuring. Some creditors oppose the plan, but the official committee appointed to represent junior creditors supports it and will recommend that Celsius customers vote in favor.
Transaction Fees Jumped 225% In April Despite Activity Dropping By 33%
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Bitcoin rose slightly in the past 24 hours while Ether lost. Dogecoin and Solana were the day’s biggest losers, both dropping by over 1%, although both posted gains on the week.
The crypto industry has endured a plethora of obstacles in recent years. However, the resilience of Bitcoin and the industry is telling.
Early Users Can Claim Genesis NFT
The developer behind bald (BALD), one of the most viral tokens in recent months, transferred around $12 million in ether (ETH) back to the Ethereum network. This comes weeks after bald ran up to an $80 million capitalization before some actions caused prices to plunge 90%. "The Hash" panel breaks down the latest developments.
Decentralization theater, governance theater, community theater. Web3 promised a revolution, but, mostly, the innovation is all for show, says Cami Russo, the founder of The Defiant.
“CoinDesk Daily” host Jennifer Sanasie dives into today’s hottest stories in crypto, as Ira Lee Sorkin, former attorney for Bernie Madoff and current partner at Mintz and Gold, explains what could happen next for Sam Bankman-Fried, after the FTX founder was sent back to jail before his trial. Bernstein thinks spot bitcoin ETF approvals could help power up a new crypto cycle. And, a closer look at how much former President Trump holds in crypto.
Warren Buffett’s Berkshire Hathaway bought roughly $4.6 billion of stocks in the second quarter. Here are some of the changes the company made to its stock portfolio in the three months through June, according to its latest 13F filing released after the bell Monday.
Client attrition after the fallout of the merger between Charles Schwab and TD Ameritrade is still in-line or slightly better than the company's predictions for the year, but Charles Schwab stock continues to disappoint on the charts despite earnings beats.
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The Dow Jones was firm as Apple stock rose. Big Short investor Michael Burry placed some new bets. Tesla stock fell on new price cuts.
Sea Limited's (SE) second-quarter 2023 performance will likely benefit from the diversification of overall service offerings and cost-optimization initiatives.
Nvidia is Morgan Stanley's top stock pick going into earnings, with a price target on the shares that implies another big rally for the chipmaker.


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