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A new report indicated Bitcoin ETFs could release $600 billion in new demand — double Bitcoin's current market cap. Here's some math behind the estimates. A United States appellate court directed the Securities and Exchange Commission (SEC) in August to reassess its denial of Grayscale's application for a Bitcoin exchange traded fund (ETF). A little-noted consequence of that decision is that it could open the floodgates for $600 billion in new cash to enter the crypto currency market. ETFs provide investors with a regulated way to gain exposure to different asset classes, including Bitcoin (BTC). The approval of a Bitcoin ETF could democratize investment in the crypto currency sector, drawing parallels to how the iShares MSCI Brazil ETF and the VanEck Brazil Small-Cap ETF have democratized investing in the Brazilian market. Despite some hurdles, market analysts anticipate potential Bitcoin ETF approval by early 2024. A Bitcoin ETF could unlock an estimated $600 billion i...

ETH price has repeatedly failed to break above a key trendline resistance and now Ethereum risks losing a strong technical support as well. Ether's (ETH) rally versus Bitcoin (BTC) is not only showing signs of exhaustion, but is also in danger of breaking below a key technical support level.  ETH slides vs. BTC in second half of January The ETH/BTC pair declined nearly 9.25% on Jan. 24 from its local top of 0.0779 BTC established on Jan. 11. Since the start of the year, Bitcoin is slightly outpacing Ether in USD terms, rising 38% versus 35%, respectively. ETH/BTC daily candle price chart. Source: TradingView Interestingly, Ether's pullback versus Bitcoin has landed its price at the bottom of its EMA ribbon range, as shown below. ETH/BTC weekly candle price chart. Source: TradingView The EMA ribbon indicator shows numerous exponential moving averages of increasing timeframe on the same price chart. Dropping below the ribbon range increases an asset's likelihood of seeing a...