2. Oktober 2023

Bitcoin, Ethereum to Shake Off SEC as FOMC Looms

• The article discusses the potential for volatility in Bitcoin (BTC) and Ether (ETH) prices due to macro events, such as lawsuits from U.S. Securities and Exchange Commission (SEC).
• QCP Capital believes that BTC and ETH prices are unlikely to be significantly affected by SEC actions, since it is becoming clear that the term “security” will not apply to either cryptocurrency.
• However, QCP warns that more serious involvement from other arms of the establishment could cause a rise in crypto market volatility.

Bitcoin & Ethereum Volatility Expected

The trading firm QCP Capital has predicted increased volatility for Bitcoin (BTC) and Ether (ETH), as macro events such as lawsuits from U.S. Securities and Exchange Commission (SEC) are likely to affect price action. Although the SEC is seen as a “toothless adversary”, QCP warned that more serious involvement from other arms of the establishment could have a greater impact on the crypto market.

Crypto Fear & Greed Index Stable

Despite this week’s news regarding lawsuits against exchanges Binance and Coinbase by the SEC, crypto market sentiment has remained steady, with Crypto Fear & Greed Index staying at 50/100 — “neutral” territory. This suggests that investors remain confident about their positions in cryptocurrencies despite regulatory pressure from U.S authorities.

QCP: Macro Events Could Affect Prices

QCP Capital believes that next week looks set to be an „action-packed“ one for crypto markets in terms of price action – suggesting that macro events such as data reports could potentially trigger significant changes in BTC and ETH prices. It further stated that if another arm of the establishment gets involved, then all bets are off on what might happen next with regards to volatility levels in cryptocurrency markets.

SEC Not Expected To Cause Major Price Depreciation

The analysis firm does not believe that actions taken by Gary Gensler or his team at the SEC will lead to any major price depreciation for either Bitcoin or Ether – primarily because it is becoming increasingly clear that these two cryptocurrencies do not fit under the definition of securities according to existing securities laws and regulations. As such, any attempts by U.S authorities may only result in sensational headlines rather than actual losses for investors or traders holding these digital assets..

Conclusion

It appears likely that there will be increased volatility ahead for both Bitcoin and Ethereum due to upcoming macro events – including data reports from next week onwards – along with continuing legal battles between exchanges and U.S regulators such as the SEC over issues like whether cryptocurrencies should be classified as securities or not . Investors should therefore exercise caution when making decisions regarding their cryptocurrency investments during this period of heightened uncertainty surrounding regulatory matters related to digital assets worldwide