With Fed having left interest rates unchanged, the environment appears supportive for crypto assets to start rallying again, said Joe DiPasquale, CEO of crypto fund manager BitBull Capital. However, the Fed went ahead to add that rate cuts were not on the horizon in the near-term, which saw the market struggling.
The Indonesian Commodities Bureau (BAPPEBTI) recently updated its list of digital assets approved for trading in the country. The list is much more expansive than the initial list published last September, and it’s interesting to note the timing of the update. Many of the tokens on the list would be considered securities in the U.S., and some tokens that wouldn’t pass Hong Kong’s quality test of high liquidity and a 12-month track record are on there. This could be a sign that Indonesia is open to a wide variety of crypto trading, and is motivated to increase tax revenues.
Bitcoin and majors have held relatively well, according to DiPasquale, making this a favorable accumulation opportunity for the mid to long-term. He added that as long as the market leader maintains the range between $20k – $22k, bulls shouldn’t be overly concerned.
A survey by Nomura’s digital asset subsidiary shows that investors overwhelmingly say digital assets represent an important diversification opportunity. BlackRock (BLK) iShares has also filed paperwork with the U.S. Securities and Exchange Commission (SEC) for the formation of a spot bitcoin (BTC) ETF.