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Although the cryptocurrency market experienced a black hole in the "Bitcoin spot ETF pass" last night, the entire market seems to have regained confidence. Not only did BlackRock CEO explain the fake news in Larry Fink that he had heard demand for cryptocurrencies from customers around the world; ArkInvest CEO Cathie Wood also shouted that multiple Bitcoin spot ETFs would be approved

Bitcoin surged 7% due to rumors that the US Securities and Exchange Commission (SEC) has approved the BlackRock iShares Bitcoin Spot Exchange Traded Fund (ETF).However, after BlackRock exposed the false news, the increaseIt was quickly erased

This week's macroeconomic market was driven by the speech of Federal Reserve Chairman Jerome Powell on October 19th. The victory of grayscale has almost become a foregone conclusion, as the US Securities and Exchange Commission has decided not to appeal the court's ruling

After selling a large amount of Ethereum this week, the price of Ethereum has experienced a significant decline. The unexpected decline has made the cryptocurrency community anxious about the stability of the world's second largest cryptocurrency and the long-term impact of the decline

On chain data indicates that Ethereum's closing price below $1530 may lead to a significant decline in cryptocurrency.Currently, Ethereum's support level is very weak below $1530In a new post on X, analyst Ali discusses the current support and resistance levels of Ethereum

Limited institutional interest in Ethereum in the context of a bear marketIn the context of the crypto bear market, starting from October 2nd, six different Ethereum futures financial instruments officially began trading, but have not yet reignited institutional investors' enthusiasm for ETH. The total trading volume of ETH futures ETFs on their first day was less than $1

Compared to the dominant cryptocurrency Bitcoin, Ethereum's price hovers around the annual low point. This decline has been evident since September 2022, causing ETH to drop to $1594 at the time of writing this article

It is reported that the US Securities and Exchange Commission (SEC) has decided not to appeal the recent court ruling, which overturns the decision to prevent crypto asset management company Grayscale from converting its Bitcoin into an Exchange Traded Fund (ETF). According to reports, Bitcoin (BTC) prices briefly rose to over $27000 on Friday

Analysts unanimously believe that although the cryptocurrency market has been plagued by poor liquidity, social sentiment can be a useful tool for tracking discussions around Ethereum's potential spot ETFs21Shares and ArkInvest jointly applied for Ethereum spot ETFs this month, which may have a profound impact on the US cryptocurrency market. Industry analysts quickly expressed their views on the broader impact

Limited institutional interest in Ethereum in the context of a bear marketIn the context of the crypto bear market, starting from October 2nd, six different Ethereum futures financial instruments officially began trading, but have not yet reignited institutional investors' enthusiasm for ETH. The total trading volume of ETH futures ETFs on their first day was less than $1

The price trend has fallen below the support level of $1603.At present, ETH is continuing to decline towards the support level of $1562

Last Thursday (21st), the Federal Reserve decided to suspend interest rate hikes in September, and Bitcoin briefly broke through $27000. However, multiple officials expect to raise interest rates by another one yard before the end of the year, and the magnitude of next year's interest rate reduction will slow down