Crypto News Today: BTC Extended Winning Streak to Three on BTC-Spot ETF Updates

Key Insights:

• BTC gained 0.40% on Friday, ending the session at $44,070.
• Ripple Chief Legal Officer Stuart Alderoty targeted the SEC.
• US regulatory activity and BTC-spot ETF-related updates are focal points for the Saturday session.

Bitcoin Extends Winning Streak to Three Sessions

Bitcoin (BTC) rose by 0.40% on Friday. Following a 0.47% gain on Thursday, BTC ended the Friday session at $44,070. Significantly, BTC held onto the $44,000 handle for the first time since December 8.

BTC-spot ETF-related updates continued to fuel buyer demand on Friday. BlackRock (BLK) submitted an amended S1 for the iShares Bitcoin Trust. Bloomberg Intelligence Analyst James Seyffart shared an excerpt from the filing, saying,

“Putting this here so everyone understands that this is not a final or approved or ‘effective’ document because I can see the hype building a bit too much. “

The SEC approval window of January 5-10, 2024, is approaching.

Seyffart also shared the seeding updates from Blackrock, saying,

“Before this – SEED MOVEMENTS DO NOT MEAN LAUNCH. Looking like BlackRock is *planning* to make moves on Jan 3rd. They’re seeding the ETF with $10 million. But maybe means BlackRock would be expecting a launch to happen shortly after?”

Seyffart noted the reference to January 3^rd aligns with the prediction of a January approval.

Bloomberg Intelligence Analyst Eric Balchunas shared a snapshot of the status of the BTC-spot ETF applications, saying,

“Latest snapshot of The ETF Cointucky Derby w new column for “AP Agreement” as SEC wants AP (who is also underwriter) named in next S-1 update (coming in next 10 days). This is no easy last step, and may keep some from starting gate. AP agreement + cash creates = approval.”

Ripple Chief Legal Office Stuart Alderoty Takes a Swipe at the SEC

On Friday, Ripple Chief Legal Officer Stuart Alderoty responded to the latest SEC court filing, saying,

“So let me get this straight. Government lawyers lie to the Court to gain an unfair advantage in litigation and the SEC’s answer is to say that going forward those lawyers will now be taught to be honest when saying things to Judges. Gensler’s SEC has become a travesty.”

The Ripple CLO responded to a post on X that shared excerpts from an SEC response to a court order in the SEC vs. Debt Box case. In November, the Court ordered the SEC to show cause why it should not sanction SEC lawyers for making false and misleading representations to the court in the SEC vs. Debt Box case.

Notably, the latest swipe came as the SEC v Ripple case entered its third year.

Technical Analysis

Bitcoin Analysis

BTC sat above the 50-day and 200-day EMAs, sending bullish price signals.

A BTC return to the $44,000 handle would support a move to the $44,690 resistance level and the December 8 high of $44,747.

On Saturday, US regulatory chatter and BTC-spot ETF-related news will remain the focal points for investors.

However, a drop below the $43,000 handle would bring the $42,968 support level into play.

The 14-Daily RSI reading, 60.41, suggests a BTC move through the $44,690 resistance level before entering overbought territory.

Ethereum Analysis

ETH held above the 50-day and 200-day EMAs, sending bullish price signals.

An ETH break above the $2,300 resistance level would support a move toward the $2,456 resistance level.

However, a fall below the $2,250 handle would give the bears a run at the $2,143 support level.

The 14-period Daily RSI at 56.50 indicates an ETH return to $2,400 before entering overbought territory.