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Let's see what news the past weekend has brought with a summary of U.Today's top three news stories.
Goldman Sachs bets on Bitcoin with $1.4 billion via BlackRock's ETF
According to the SEC filing, Goldman Sachs has substantially increased its involvement in the cryptocurrency market, becoming the largest institutional holder of BlackRock’s iShares Bitcoin Trust (IBIT) with 30.8 million shares valued at over $1.4 billion. This represents a 28% increase from its previous holdings of 24 million shares and positions Goldman Sachs ahead of other major investors, signaling strong confidence in Bitcoin ETFs. By the end of 2024, the bank's total crypto ETF holdings reached $2.05 billion, with about $1.3 billion in BlackRock’s Bitcoin ETF and $300 million in Fidelity’s. This reflects a huge 50% increase in their crypto ETF exposure compared to the $720 million total from the previous quarter.
516,120,000,000,000 Shiba Inu (SHIB) set to be hit: Potential scenarios
Shiba Inu is moving closer to a critical price range that could decide its next major move. Data provided by IntoTheBlock shows that nearly 516.12 trillion SHIB held by over 116,000 addresses are priced between $0.000016 and $0.000019. At press time, SHIB is trading at $0.00001619, up 1.24% over the past 24 hours and up almost 28% over the week, benefiting from a broader bullish trend in the crypto market. Traders are now closely monitoring the potential resistance around the $0.000016 to $0.000019 range due to possible selling pressure from those looking to break even on their investments. If SHIB breaks above this range convincingly, it may attract additional buying pressure, targeting the next level between $0.000019 and $0.000024. If SHIB fails to break out, a wave of profit-taking could drag prices down toward lower support levels between $0.000014 and $0.000016.
XRP's first major chart signal of 2025 emerges: What to expect
XRP is approaching a crucial moment that could influence its price trajectory, particularly the emergence of its first major chart cross of 2025. The asset's 50-day and 200-day Simple Moving Averages (SMA) converge, which could result in either a golden cross (if the 50-day SMA crosses above the 200-day SMA), or a death cross (if the 50-day SMA falls below the 200-day SMA). Analysts are closely monitoring this crossover, as the last golden cross in November 2024 preceded a notable bull run for XRP. Currently, XRP is changing hands at $2.56, up 8.85% over the past 24 hours, per CoinMarketCap. If the rise sustains, XRP may target $2.60 and $3 next. The asset is also benefiting from the positive news in the Ripple-SEC case settlement; $50 million will go to the SEC, while the remainder of the escrow funds (just over $75 million) will go back to Ripple.
Vladislav Sopov