Another Weekly Session with Loui, M+ Online Head of Research.

What happened? Last Monday, Bitcoin was having a super run towards the USD30k zone on the back of a false report of a spot ETF approval was posted on social app X (formerly known as Twitter). Quickly, the selling pressure picked up. - Coindesk (Bitcoin Jumps to $30K, Then Dumps, as False Spot ETF Approval Report Circulates)

Emergence of a Unique ID on DTCC. Again, another pump was seen yesterday when the iShares Bitcoin Trust was listed on the Depository Trust & Clearing Corporation (DTCC, which clears Nasdaq Trades). While it's not a guarantee of ETF approval, the fact that BlackRock is expressing confidence is certainly a positive indicator.

Positive vibe in the crypto space. Bitcoin trended positively and several other coins such as Polkadot (DOT) and Polygon (MATIC) are rising in tandem, while Ether (ETH) and Ripple-related coin (XRP) showed some momentum as well.

How can you benefit? Since the Bitcoin Spot ETF could be listed soon, we expect more trading activities around this crypto space and likely another PUMP is nearby. Traders may utilize the Crypto-related ETF for exposure within the segment.

Ticker	Company Name	Last Closing (USD)	Current Market Cap (USD 'bn)	1-month Total Return (%)
SQ	$Block SQ$	43.9	26.78	-1.81
COIN	$Coinbase Global, Inc. COIN$	77.21	18.31	8.81
MSTR	$MicroStrategy Incorporated Class A MSTR$	377.49	5.32	16.94
MARA	$Marathon Digital MARA$	8.75	1.85	0.92
Ticker	US ETF Name	Last Closing (USD)	Current Market Cap (USD 'bn)	1-month Total Return (%)
BITO	$ProShares Bitcoin Strategy ETF BITO$	16.01	0.99	18.16
Ticker	HK ETF Name	Last Closing (HKD)	Current Market Cap (HKD 'bn)	1-month Total Return (%)
3066.HK	$FA CSOP BTC 03066.HK$	14.42	0.16	7.52

Source: Bloomberg

More about Loui:

Loui Low leads a team of analysts to perform equity and economic research and to provide investment advisory services to the organization's sales team, fund manager and retail fraternity. He has more than 10 years of experience in the stockbroking industry.

He graduated with a Bachelor of Science in Statistics from University of Malaya. He also holds an STA Diploma and is a member of the Society of Technical Analysts (MSTA) United Kingdom.

More about the Trade Radar:

Trade Radar is a weekly-updated section, featuring Loui's latest insights into market trends and hot topics. Traders may find some trading inspiration from Loui's views.

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