Saturday, May 18, 2024

BTC and ETH Surge on Grayscale Court Victory

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Stanislav Shishkin
Stanislav Shishkin
Stanislav is one of the lead copywriters on and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Stanislav at

In a landmark legal victory, Grayscale emerged triumphant in its court battle against the Commodity Futures Trading Commission (CFTC) on Tuesday. The ruling immediately buoyed crypto markets, with Bitcoin breaching $28,000 and Ethereum topping $1,700.

BTC bears scurried as the flagship cryptocurrency vaulted past multiple resistance levels. Bitcoin now stands at its highest price point since mid-August, riding a wave of positive sentiment from the Grayscale decision.

Ethereum similarly surfed this swell, jumping nearly $100 in hours. The second-largest crypto by market cap briefly touched $1,750 before tempering gains. But momentum remains on the side of the bulls for now.

Traders cheer this respite from the grueling bear grind of 2022. While some profit-taking has emerged, the Grayscale court win affirms institutional commitment to crypto. This stamp of legitimacy fans optimism for a broader market turnaround.

Of course, volatility still rules the seas. But for today crypto sailors can enjoy smoother sailing as Grayscale’s lighthouse guides markets toward clearer regulatory waters. The voyage ahead remains long, but this triumphant ruling provides an upbeat gust to propel prices onward.


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