Here’s Why Invesco Pulled Out of Bitcoin (BTC) Futures ETF Last Minute
Invesco, a $1.6 trillion asset manager surprised many by pulling out of its Bitcoin Futures ETF bid at the last moment. What turned even more heads was the fact that the withdrawal came after the SEC has already approved ProShares’s Bitcoin Futures ETF that created and broke several records on debut. Now the asset manager has come out to reveal the reason behind the unexpected pullback.
The Australian Pension Fund Industry, which is worth A$3.3 trillion, i.e., $2.4 trillion has expressed its doubts about the $2.5 trillion decentralized industry. An eminent figure from the country’s pension fund sphere has levied cryptocurrencies as risky investments, especially for long-term funds in lieu of their highly volatile nature.
The Financial Conduct Authority (FCA), aka UK’s Financial Watchdog, has taken yet another initiative to crackdown on illegal crypto activities in the area. The latest development in UK’s crypto crackdown saw the FCA recruit a team of Bitcoin Experts to further train its employees on matters of identifying financial crimes using crypto.
🔥Bitcoin Price Prediction: BTC Is Still Vulnerable To Further Losses If The $56 Support Doesn’t Hold
Bitcoin price momentarily reclaimed $60,000 but corrected immediately to re-test the $56,000 level. El Salvador plans to launch a Bitcoin city as it take Bitcoin adoption to the next level.Bitcoin price has made little progress over the weekend as bulls attempted to recover last week’s losses without success. The big crypto retested the $56,000 support wall after falling as low as $55,396, the lowest since mid-October.
The MIOTA coin has been traveling in a sideways trend for two months now. In this consolidation, the price formed a symmetrical triangle pattern in the daily time frame chart. A recent news that added more popularity for IOTA was announcing the launch of a new incentivized staging network, ‘Shimmer.’
Last week the POWR token showed a significant surge in its price, indicating a total gain of 120%. With this rally, the token price breached the neckline of the Cup and Handle pattern, revealing a great opportunity for crypto traders.