However, other bitcoin, ethereum and crypto market watchers are more upbeat, with one analyst pointing to the potential for the Federal Reserve to end its tightening cycle in the coming months as a bullish signal. price of bitcoin, ethereum and other cryptocurrencies. The 2023 bitcoin price rally has stalled, sparking fears a further crash could be about to hit the. Sign up now for CryptoCodex -A free, daily newsletter for the crypto-curious MORE FROM FORBES 'Update Immediately'-Serious iPhone Warning Issued by Binance CEO For 'Billions Of Devices' By Billy Bambrough ![]() " a potential liquidity gap that might be hard to fill in the absence of Signature Bank, Silicon Valley Bank, and Silvergate Bank, which were responsible for at least, 50% of all the fiat-to-crypto on-ramping during the last few years," Thielen wrote, noting "crypto venture capital funds are also under immense pressure to return funds to their investors," piling on downward pressure. Thielen also pointed to the upcoming FTX creditor liquidation that could see $3.4 billion worth of the collapsed exchange's crypto sold by year-end, with $200 million worth of various cryptocurrencies being offloaded onto the market every week. "While there may be some beta-related spill-over into other cryptocurrencies once a Blackrock ETF is approved, the fundamentals remain impaired for the non-bitcoin crypto universe," Thielen wrote. ![]() Securities and Exchange Commission (SEC). The bitcoin and the crypto market's recent gains were largely driven by BlackRock's BLK landmark spot bitcoin exchange-traded fund (ETF) filing in June, followed by XRP XRP developer Ripple's and crypto asset manager Greyscale's legal victories over the U.S.
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