After last week’s push for over $ 12,000, traders at Bitcoin see a steady sell-off this week, with BTC temporarily holding the $ 11,000. It was finally broken yesterday, Tuesday, after the United States Trade Representative — for short: USTR — announced that that the additional 10 percent tariff on Chinese goods announced by US President-Trump for some items was to be postponed until the 15th of December, 2019.
This news has had a positive impact on the U.S. stock market, which has seen the S&P 500 index go sharply higher. Bitcoin is increasingly emerging as a safe-haven asset that performs particularly well in turbulent, uncertain times. The negative correlation (attention: correlation ≠ causality) between the S&P 500 and Bitcoin proved to be a relatively reliable indicator under the current trump government.
Binance: User data supposedly leaked
An alleged data leak around the leading crypto exchange Binance has led to a recent turmoil. Last Wednesday, a Telegram user known under the pseudonym “Guardian M” distributed hundreds of pictures of people holding their identity card and a note with “Binance, 24.02.18”. Allegedly, the presented data was hacked from Binance. In total, around 60,000 pictures should be owned by the hacker. According to Binance, the pictures do not match the ones they filed — the security watermark is missing as well.
SEC: ETF decision will be taken soon
The ETFs, proposed earlier this year by asset managers Bitwise Asset Management, VanEck / SolidX and Wilshire Phoenix and filed by the NYSE Arca and Cboe BZX Stock Exchanges, all aim to become the first Bitcoin-based investment vehicle.
The submissions were published in February and June in the Federal Register, which initiated the statutory 240-day deadline for a final decision. Decisions on the Bitwise and VanEck / SolidX proposals are expected by the 13th and 18th of October, respectively. The proposal of Wilshire Phoenix should be decided by the 29th of September.