© Reuters.
GLOBAL MARKETS – The cryptocurrency market has seen a flurry of activity following the recent approval by the US Securities and Exchange Commission (SEC) of exchange-traded funds (ETFs) from prominent financial entities. Bitcoin's value rose but then retreated after an unexpected turn related to the SEC announcement.
On Wednesday, the market was boosted by the SEC's announcement approving Bitcoin ETFs from industry giants BlackRock (NYSE:) and Fidelity. This news initially caused the price of Bitcoin to skyrocket. However, the gains were short-lived as the announcement was temporarily removed from the SEC website, leading to Bitcoin's price correction to around $45,000.
The next day, Thursday, Bitcoin price continued to show signs of volatility, reaching a high of $49,000 before falling below the $46,000 mark. Amid Bitcoin's price movements, Bitcoin's XRP also made headlines as its wallet number surpassed the 5 million mark, reflecting growing user adoption.
Additionally, the market saw notable performance from Solana-based meme coins. WIF saw a significant rise following its listing on the Bybit exchange platform, while MYRO's market capitalization crossed the $100 million threshold.
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