Bitcoin's Wild Ride Continues with Upswing After Weekend Dip

Despite a 2.5% weekly dip, Bitcoin has rebounded and surged 31% in the past month, currently valued at $66,964. With less than a month until the halving, volatility is expected due to investor uncertainty about pricing. Ethereum has also experienced positive momentum, gaining 2.6% within the last 24 hours and 17% monthly, currently trading at $3,452. The SEC has delayed its decision on the Grayscale Ethereum Trust ETF until May 30th, leading executives to speculate about potential benefits of a December launch.

Bitcoin's Rollercoaster Ride

Hey there, buddy! So, Bitcoin took a bit of a tumble over the weekend, dipping below $63,000. But guess what? It's back with a vengeance, up 3% at the start of the week. As I'm typing this, it's sitting pretty at $66,964. Not too shabby, right?

Even though it's had a slight dip over the past week, BTC has still managed to surge 31% in the last month. Traders are still bullish, and they're fueling the momentum.

Halving on the Horizon

We're less than a month away from the next Bitcoin halving. That's when the reward paid to miners will get cut in half, from 6.25 BTC to 3.125 BTC. According to NiceHash, it looks like it'll happen on April 19th. But hey, don't hold your breath. The exact date is always changing.

Why? Because halvings happen every 210,000 blocks, and they're not tied to specific calendar days. And while new blocks usually take about 10 minutes to process, it's not always consistent.

Volatility Ahead

Andy Bromberg, CEO of Beam, thinks Bitcoin's going to keep swinging wildly in the lead-up to the halving. Investors are still trying to figure out if they've priced it in correctly. So, buckle up for a bumpy ride.

Ethereum's Momentum

Ethereum's also been on a roll, gaining 2.6% over the last 24 hours. Right now, it's trading at $3,452. It almost fell below $3,000 last week, but it's been climbing steadily since Sunday morning.

Over the past month, Ethereum has gained an impressive 17%. Not too bad, huh?

ETF Delays

Last week, the SEC pushed back its decision on whether to convert the Grayscale Ethereum Trust (ETHE) into a spot Ethereum ETF. Again. Now, they have until May 30th to make up their minds.

Silver Lining for Ethereum

While execs are still waiting for some good news on Ethereum ETFs, they're trying to find a silver lining. Matt Hougan, Chief Information Officer at Bitwise, tweeted that if the ETFs launch in December instead of May, they'll gather more assets. Why? Because traditional finance needs more time to digest the Bitcoin ETFs.

Stay Tuned

Keep an eye on crypto news. We'll keep you updated with the latest developments. Stay tuned, my friend!