Research Weekly - Crypto Corrects Even as ETF Activity Heats Up

October 14, 2023

IN TODAY'S ISSUE:A decision on Grayscale’s legal case with the SEC to convert GBTC to an ETF is expected in the coming months. Wall Street is rapidly increasing ETF applications, although the market typically favors first movers, and not all products may prove economically viable. In the case of Golden Crosses, this is when the 50-day moving average passes up through the 200-day moving average. Golden Crosses appear to be negative indicators in the short term (7- and 30-day measurements) and positive indicators in the long-term (+90 days). Unexplained significant weakness was seen in many altcoins that perhaps portended the move in the major coins, such as bitcoin.

The source of this news is from NYDIG