Analysis Crypto by Thebittimes.Com

US Commerce Secretary Lutnick’s son, Brandon Lutnick, overtook his father’s asset management company, Cantor Fitzgerald, when his father accepted President Donald Trump’s cabinet appointment. This week, Brandon announced a new competitor to MicroStrategy, Twenty One, led by Tether. Cantor is a major player in the crypto industry because it manages many of the bonds backing Tether’s USDT stablecoin. Howard and Brandon Lutnick have staunchly supported Tether. Yesterday, Cantor Chairman Brandon announced a Tether-controlled bitcoin (BTC) acquisition company involving Tether, SoftBank, and Jack Mallers, the founder of Strike. Mallers will lead the company as CEO. The entities, blessed by the son of a Trump cabinet member, are forming Twenty One (NASDAQ:XXI).  XXI is the Roman numeral symbol for 21, a reference to BTC’s 21 million supply limit. Twenty One: Tether-controlled, Jack Mallers-led The company will acquire and manage a large treasury of over 42,000 BTC . ...

The Solana price plunged 2.6%  in the last 24 hours to trade at $171 as of 12 p.m. EST on a 43% pump in trading volume to $4.39 billion. This slump in the SOL price comes despite Franklin Templeton filing an S-1 prospectus with the SEC for a Solana ETF (exchange-traded fund). The move underscores a broader trend where major asset managers, including Grayscale, Bitwise, and VanEck, seek regulatory approval for Solana-based investment products as institutional adoption grows. 🚨BREAKING: Franklin Templeton, a $1.46T asset manager, has officially filed an S-1 with the SEC for a spot Solana $SOL ETF. pic.twitter.com/qTY8YC6DuA — SolanaFloor (@SolanaFloor) February 21, 2025 This increasing demand highlights rising confidence in Solana’s market potential and a shift toward diversifying crypto offerings beyond Bitcoin. BitBull Capital CEO Joe DiPasquale emphasized that asset managers expand their investment products as regulatory conditions become more favourabl...

The Bitcoin price climbed 2% in the last 24 hours to trade at $68,784 as of 11:20 p.m. EST on trading volume that dropped 2% to $33 billion. This comes after the Securities and Exchange Commission (SEC) approved Bitcoin ETFs (exchange-traded funds) for the New York Stock Exchange (NYSE) and Chicago Board Options Exchange (CBOE). The approval is seen as a step in integrating digital assets into traditional finance. Bitcoin Price Could Continue Soaring The Bitcoin price chart shows a bullish reversal pattern after a recent period of consolidation. The bulls seem to be capitalizing on the support around $59,800, which formed a double bottom pattern, according to data from GeckoTerminal . As a result of the rally, BTC now trades above both the 50-day and 200-day Simple Moving Averages (SMAs). The RSI is at 66.55, approaching the overbought zone (above 70). This suggests that the market has strong bullish momentum, but it is getting closer to overbought conditions. A value above 70 co...