Cryptocurrencies Head For A Winning Week, Bitcoin Tops $30,000 On ETF Optimism And Flight To Safety –

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Several firms have also amended their filings in the past couple weeks to address earlier concerns by the SEC, which investors are taking as a positive sign that the agency is engaging with the firms. Throughout the week, bitcoin has also been driven by a flight to safety. “Fears of an escalation in the Middle East conflict, nervousness about the U.S. banking system and overall market tension are pushing bitcoin and gold higher,” said Noelle Acheson, economist and author of the “Crypto is Macro Now” newsletter. “Plus, the public support for this narrative from renowned investors such as Larry Fink and Paul Tudor Jones doesn’t hurt.” In the rest of the market, altcoins climbed after the SEC Thursday night dropped claims against two Ripple Labs executives – CEO Brad Garlinghouse and co-founder Chris Larsen – in its lawsuit alleging the company violated U.S. securities law. “Many are – mistakenly, perhaps – taking the SEC’s dismissal of its case against [them] as a sign that the regulatory heat will ease,” Acheson said. “This is unlikely to be the case, unfortunately, as by canceling the trial scheduled for next April, the SEC can now appeal the original ruling. I don’t know for sure that it will do this, but in theory it can.” Ripple’s XRP jumped 6%. Litecoin added more nearly 4%, and Ethereum competitors Solana and Polygon saw their tokens rise 7% and 4%, respectively. All are on track to post a positive week.

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