Overnight in Asia, crypto markets faced significant losses. Bitcoin (BTC) fell sharply from around $36,600 to a low of $34,970, following flat October Consumer Price Index (CPI) data, contrary to expectations of an increase. At the time of writing, Bitcoin was trading at about $35,475, marking a 2.6% decrease in 24 hours. Ethereum (ETH) also saw a nearly 4% drop, losing the $2,000 level it had recently regained.
What to Watch Out for Today
1. Disney Dives into Digital Collectibles with Dapper Labs: Disney is making a splash in the digital collectibles world by partnering with Dapper Labs for a “digital pin” platform. What’s the buzz? It’s about bridging a century of Disney and Pixar magic with the futuristic appeal of NFTs. Expect a surge of digital pins featuring Star Wars, Pixar, and Disney characters. The big question: Will this nostalgic yet innovative approach pay off in the ever-evolving NFT market? For Disney enthusiasts and NFT collectors, this could be a realm of new treasures.
2. India’s Supreme Court Sidesteps Crypto Regulation Appeal: The Indian Supreme Court has tactfully declined a petition to direct government crypto regulations. What’s the context? This move comes amidst a petitioner’s legal tangles, casting doubt on the petition’s intent. The crypto landscape in India remains tumultuous, with regulatory clarity still a distant dream. Key takeaway: Investors and crypto enthusiasts in India should brace for continued uncertainty and tread cautiously in this ambiguous regulatory environment.
3. Nasdaq Advocates for Ethereum ETF Inclusion: Nasdaq is pushing for an Ethereum ETF, urging the SEC for equitable treatment with commodity-based funds. What’s driving this? The aim is to harmonize the regulation of digital assets like Ethereum with traditional assets. If approved, this could be a groundbreaking moment for Ethereum and its investors, offering a safer and regulated investment avenue. Investor’s note: Keep an eye on this development, as it could significantly influence Ethereum’s market dynamics and investment appeal. Long Ethereum?
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