The PENGU Spot ETF is the first NFT-based crypto ETF application, as Canary Capital aims to merge NFTs and DeFi—will the SEC approve this groundbreaking move

January 2024 marked a pivotal point in the crypto industry: the US Securities and Exchange Commission (SEC) approved a bunch of 

 (ETFs) after a decade of resisting it. Later that year, several Ethereum (ETH) Spot ETFs were also approved. These early successes encouraged investment funds focused on digital assets to seek approvals for other 

 (AVAX) and other high-cap cryptos have ended up on the SEC's desk in recent months.

Until Mar 20, 2025, one thing had never occurred: an 

-based crypto ETF application. Such a move was thought to border on impossibility, given how stringently and at length the SEC evaluated ETF applications even for established fungible cryptos. And yet, the Canary Capital investment manager submitted an application to the SEC for approval of the first NFT-focused crypto ETF product, the PENGU Spot ETF, triggering a mini-revolution in the emerging space at the junction of crypto and traditional finance.

If approved, this ETF will be the first of its kind in the industry, based on a mix of 

. Many observers expect Canary Capital to struggle mightily for SEC endorsement of its revolutionary product. Nevertheless, the SEC now has a track record of approving crypto ETFs — which raises hopes for both the altcoin ETFs mentioned above and the PENGU Spot ETF application.

The PENGU Spot ETF is a proposed exchange-traded fund (ETF) product introduced by the Canary Capital investment management firm, and is currently awaiting approval by the SEC. 

 on Mar 20, 2025, making this the first crypto ETF product with an NFT component that’s vying for the approval of America's primary financial regulator. The ETF has been registered in the US state of Delaware.

The Pengu Spot ETF's portfolio is envisioned as consisting primarily of PENGU tokens that will make up anywhere between 80% and 95% of total assets held, with the rest allocated to Pudgy Penguins NFTs. Small portions of Solana's SOL coins and Ethereum's ETH tokens will also be included in order to facilitate transactions and liquidity support, as PENGU tokens are mainly issued on the Solana blockchain, and Pudgy Penguins NFTs are an Ethereum-based collection. 

Since Canary Capital will hold these assets and periodically rebalance the portfolio, gas fee payments on Solana and Ethereum will apply, with fees paid in SOL and ETH, respectively.

Launched in 2021 on Solana, the Pudgy Penguins NFT collection consists of 8,888 items, each depicting a cute penguin with a distinct combination of five different traits. In December 2024, the project introduced a related fungible cryptocurrency, the Ethereum-based PENGU token. As of Apr 2, 2025, PENGU is a smaller-cap asset, ranked 191st in the crypto market, with a total 

 of $319 million. In contrast, Pudgy Penguins are among the leading projects in the NFT space, ranked second among all NFT collections, with a market cap of $155 million.

Canary Capital's application to the SEC is unique in two ways: it’s the first ETF with an NFT component, and it marks the first time ETF approval has been sought for a relatively smaller-cap cryptocurrency, PENGU, which isn’t even among the top 100 crypto assets by market cap. All of the other crypto ETF applications approved by the SEC (or currently vying for approval) are based on high-cap, leading assets that are typically ranked within the top 30.

As of Apr 2, 2025, the SEC has had the application for the PENGU Spot ETF application for just two weeks. The regulator has up to 240 days to review such applications, although historically, the SEC has pondered over crypto ETF applications for years. Now, however, the string of Bitcoin and Ethereum Spot ETF approvals in 2024 raises hopes that newer submissions may be subject to an already established evaluation framework — and thus greenlighted much faster.

At the moment, the SEC is also considering spot ETF applications for several high-cap cryptocurrencies, including Dogecoin, Solana, Polkadot, 

 (XRP). If the regulator decides to approve the applications in batch mode — all or several at once — Canary Capital will have reason to hope that its ETF is included.

However, there's been skepticism regarding the PENGU Spot ETF application, with some analysts believing that its chances might differ from those of the larger, more established altcoin ETFs. This isn't surprising, as a PENGU Spot ETF would be a distinct product, being the first NFT-focused ETF. In addition, NFTs have more limited liquidity than fungible cryptocurrencies. 

NFTs may also be harder to valuate objectively. The prices of fungible cryptos are easily sourced from the crypto market, where supply and demand establish their value. In contrast, the limited liquidity and uniqueness of NFTs makes it much harder to price them efficiently.

Moreover, the PENGU token — which will make up most of the proposed ETF — isn't among the most traded assets in the crypto market. Because PENGU has a modest position in the crypto space (along with its origins as a 

), the SEC could view it with more skepticism than it does the leading altcoins.

Naturally, all these factors are just speculation at this point, and we’ll need to wait on the SEC’s initial comments regarding the first NFT-based ETF under their consideration in order to form a more defined view of the product's prospects for approval.

Current impact of the PENGU Spot ETF application on the crypto market

The news of the PENGU Spot ETF application has so far had no appreciable impact on the price of the PENGU token itself. On the day of the application (Mar 20, 2025), the token was trading at around $0.007. Two weeks later, it's still hovering around the same price. 

On the other hand, there's been a modest increase in the average price of Pudgy Penguins NFTs traded on the market: between March 20 and 28, the average price rose by 16% from around $16,450 to $19,120, though it has since retraced slightly to $17,490 as of Apr 2.

Given the modest price effect, investors are likely still cautious about the chances for the PENGU Spot ETF's approval.

However, if it is approved, the broader impact on the crypto market could be far-reaching, as such a step would signify the SEC's openness to both NFT-based ETFs, and ETFs made up of smaller-cap cryptocurrencies, including meme coins. The number of tokenized asset funds that offer NFT-based products would then be likely to increase significantly, facilitating mainstream NFT adoption within traditional financial markets.

An SEC approval of the PENGU Spot ETF may lead to a flurry of further ETF applications based on NFTs in some form. This could even include the first ETFs composed entirely of NFTs. Other crypto asset types — e.g., 

 (RWAs) — may also become candidates for the SEC’s consideration. Furthermore, in the unlikely event that Canary Capital’s PENGU Spot ETF were to be approved ahead of the altcoin spot ETFs currently in the SEC’s pipeline, it would send a very strong signal that those ETF applications are also a sure bet.

The current PENGU Spot ETF application is a pioneering event that may open up opportunities for NFT ETFs and other crypto ETFs based on partial NFT holdings. Although the SEC approved multiple Bitcoin Spot ETFs in early 2024, few people expected an NFT-based ETF to emerge so soon afterward. Probably even fewer expected a meme coin–based ETF to be taken seriously by the SEC. Unique in so many ways, the PENGU ETF flips the entire concept of traditional ETFs on its head.

Canary Capital's attempt to get approval for an NFT-backed ETF is truly a bold undertaking, though observers said the same thing about 

 just a few years ago. Someone needed to become a trailblazer in this area — and Canary Capital has taken up the noble role without hesitation. Now, all eyes are on the SEC as it prepares to weigh in on a product it has never before encountered.

Intermediate

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PENGU Spot ETF: A bold move for NFT investing — or just hype?

In this article, we break down what to expect from Liberation Day and how it could shape the outlook for equities, the US economy and crypto markets.

 April 2, 2025 as "Liberation Day" — a moment he claims will restore America's trade fairness through sweeping reciprocal tariffs. With few concrete details confirmed, global markets remain on edge. Investors are bracing for the economic fallout of a potential trade war, and crypto traders are watching closely to assess the impact on digital assets. In this article, we break down what to expect from “Liberation Day” and how it could shape the outlook for equities, the US economy and crypto markets.

Since returning to the White House in January 2025, President Trump has prioritized reshaping US trade policy with a renewed focus on tariffs. His administration has already announced 

 on all steel and aluminum imports. Many of these actions take effect this week, coinciding with his so-called Liberation Day.

Trump argues that tariffs are a necessary tool to reduce the US trade deficit and force foreign nations to stop what he calls "economic warfare" against the American worker. Treasury secretary Scott Bessent 

 countries with persistent trade surpluses — dubbed the 

 — as primary targets for reciprocal tariffs. These include China, the EU, Canada and Mexico.

However, critics point to the growing risk of a global trade war, with multiple partners already threatening or initiating retaliatory measures. Goldman Sachs recently 

, citing declining business confidence and mounting economic uncertainty. The tariffs, designed to protect US industries, could instead raise prices and weigh on consumer spending.

What to expect from Trump's ‘Liberation Day’ announcement

Trump is expected to reveal his tariff plans in a Rose Garden press conference on April 2. White House press secretary Karoline Leavitt 

 that the president would impose tariffs on "any country that has treated the American people unfairly" — though no nation-specific exemptions have been confirmed. Trump has promised these reciprocal tariffs will be 

While final details remain under wraps, proposals have included both country-wide and sector-specific tariffs. These could range from uniform, percentage-based levies to targeted charges on industries like pharmaceuticals, semiconductors and autos. Trump's advisers, including Trump trade adviser Peter Navarro and commerce secretary Howard Lutnick, claim the new tariffs could generate over $600 billion annually — though many economists dispute this figure.

Delayed tariffs on Canadian and Mexican imports, 

 in early March, are also set to take effect this week. These include taxes on agricultural products, energy goods and automotive components. Trump has also 

 a 25% tariff on imports from countries that purchase oil or gas from Venezuela.

Given the administration's conflicting signals in recent weeks, there's a wide range of potential outcomes. Whether “Liberation Day” ushers in immediate enforcement, additional delays or future negotiation rounds remains to be seen. For now, uncertainty reigns.

Potential impact on the US economy and global markets

Economists warn that broad-based tariffs could lead to slower US growth, higher consumer prices and widening inequality. Goldman Sachs now 

 Trump's trade policies to reduce annual GDP growth to 1.5% from 2%, while the odds of a recession are being raised from 20% to 35%.

Global equity markets have already shown signs of stress. European and Asian indices dipped ahead of “Liberation Day,” while the S&P 500 and Nasdaq-100 

 in March (respectively). Auto manufacturers, tech firms and retailers could be especially vulnerable if tariffs disrupt global supply chains.

There's also the question of the Federal Reserve's response. With inflation risks rising, policymakers may hold off on anticipated rate cuts, further complicating the economic outlook heading into Q2.

How will ‘Liberation Day’ affect the crypto industry?

Crypto markets have mirrored broader risk sentiment over the past quarter, with investors reducing exposure amid macroeconomic turbulence. As of April 1, the 

 is down 16.9% year-to-date. Bitcoin has fallen 10.48%, Ethereum 44.2% and Solana 33% — despite reaching new highs in January on hopes for pro-crypto policies from the Trump administration.

Investor optimism has since cooled as recession risks, inflation concerns and policy unpredictability drive a risk-off mood. Bitcoin dipped to $81,656 over the weekend, marking its weakest Q1 since 2018. Traders remain cautious ahead of “Liberation Day,” awaiting clarity before opening new positions.

“Liberation Day” could further weigh on crypto prices if market volatility increases and capital rotates out of risk assets. However, some analysts believe any resulting sell-off may offer an opportunity to 

 — especially if Trump follows through on crypto-friendly regulation later this year. For now, though, many eyes are on April 2.

With details still unknown, the crypto market remains in a "wait-and-see" phase. “Liberation Day” could mark a turning point — for better or worse — depending upon the scope and execution of Trump's tariff agenda.

Trump Liberation Day.png

Trump's 'Liberation Day': What it means for crypto markets

Grayscale has filed to convert its private Digital Large Cap Fund, which includes Bitcoin, Ethereum, XRP, Solana, and Cardano, into a publicly available exchange-traded fund (ETF). 

Daily top performer — Compound Finance (COMP)

The S&P 500 rose 0.38% as investors awaited new tariffs amid weak factory data and declining job openings. Gold eased to $3,113 after hitting a record high, driven by profit-taking ahead of Trump's tariff announcement, but remains strong due to safe-haven demand and economic uncertainties. The Coindesk Indices, which tracks the broader crypto market, are up by 1.30%, with Bitcoin and Ether are up 3.10% and 5.19%, respectively, in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is COMP, up 14.3%, following the proposal for the creation of a foundation to ensure consistent leadership and coordination by Compound.

Compound Finance (COMP), launched in September 2018, is a DeFi lending platform that allows users to earn interest on crypto assets. Built on smart contracts, it adjusts interest rates based on supply and demand, connecting lenders and borrowers without intermediaries. In June 2020, Compound decentralized with the launch of COMP and full governance transfer. However, it lacks a core operational pillar. With Compound v4 development and increased community engagement, the need for consistent leadership has grown. To address this, Compound Labs 

 creating a Compound Foundation for structure, clarity, and coordination, similar to other ecosystems like Uniswap.

Check out the latest prices, charts, and data of 

 to convert its private Digital Large Cap Fund, which includes Bitcoin, Ethereum, XRP, Solana, and Cardano, into a publicly available exchange-traded fund (ETF). The fund, which currently holds 79.4% Bitcoin and 10.69% Ethereum, has grown by 478.83% since its launch in 2018. The conversion would allow everyday investors to access the crypto market, covering about 75% of the digital asset market cap. If successful, it would eliminate the current barrier that restricts access to accredited investors. The filing is still in progress, with management fees and other details pending.

Yesterday, BTC spot ETF had a total outflow of $157.8 million, with GBTC seeing a loss of $10.1 million and non-GBTC products losing $147.7 million.

 that its airdrop might be approaching, with a claim page now live. Registration for the airdrop runs from April 2 to April 17, and claims are expected to open on April 22. However, nothing has been officially confirmed yet. Stay tuned for updates.

Beginner

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Grayscale files to convert digital large cap fund into publicly accessible crypto ETF

In this guide, we'll dive into how to trade crypto with the Bybit app, a convenient and feature-rich platform. Explore spot and derivatives trading for beginners on the Bybit app.

Welcome to our step-by-step guide on trading using the Bybit app. In this article, we’ll walk you through everything you need to know — from downloading the app and setting up your account to executing spot, margin and derivatives trades. Bybit is a leading cryptocurrency exchange that offers a fully localized and user-friendly mobile experience, making it easy for both beginning and seasoned traders to manage their investments seamlessly.

First, download the Bybit app from the App Store (iOS) or Google Play (Android). Once you’ve installed the app, open it and select your preferred language.

 and register using your email address or phone number. Complete the verification process by submitting your mainland Chinese ID or passport as required. This step is crucial to ensure your account is secure, and to unlock higher withdrawal limits.

After verifying your identity, head over to the 

 tab to fund your account. You can directly deposit cryptocurrencies like BTC or USDT. Our 

 (UTA) streamlines fund management, allowing you to trade seamlessly across different markets without the hassle of multiple wallets.

Spot trading with Bybit lets you buy or sell cryptocurrencies at current market prices with immediate settlement.

To begin, log in to the app and tap on the 

Choose your desired trading pair, such as BTC/USDC or ETH/USDT, from the list.

 lets you specify a price at which you want to buy or sell. 

Enter the amount you wish to trade, review the details and confirm your order.

Once your order is executed, monitor its status in the 

Bybit has an intuitive interface that displays real-time updates, so you can track your trades anytime with ease. 

How to execute a spot margin trade with the Bybit app

For traders looking to leverage their positions, Bybit offers a spot margin trading feature that allows you to borrow funds to increase your buying power. Start by logging into your account and tapping on 

Choose a trading pair, such as ETH/USDC, which supports margin trading with leverage options of up to 10x. 

Once your trading pair is selected, you’ll need to select the margin amount (e.g., 

 at which you want your limit order to execute.

You’ll also see several other important metrics, such as 

Enter the amount you wish to trade, and then carefully review all of the details.

After confirming your order, your margin trade will be executed. You can track your position in the 

 tab, where you can also set up stop-loss or take-profit orders to manage risk. 

How to trade derivatives with the Bybit app

Bybit also offers derivatives trading, which allows you to speculate on the price movements of cryptocurrencies without actually owning the underlying assets. Derivatives include Futures and Perpetual contracts, which can be traded with leverage, sometimes up to 100x.

To start, log in to your account and tap on 

Set your desired leverage (e.g., 50x) and choose between 

 margin modes, based on your risk preference.

 (if using limit or conditional orders) and 

Once you’re satisfied with your parameters, confirm your order and your position will appear in the 

Trading with the Bybit app offers numerous advantages that make managing digital assets both efficient and secure. The platform’s user-friendly design, high-speed execution and comprehensive risk management tools cater to traders of all levels. Our Unified Trading Account (UTA) streamlines fund management by consolidating assets for spot, margin and derivatives trading under one account, which reduces operational complexity and enhances overall efficiency. This streamlined approach lets you focus on strategy rather than logistics.

Additionally, Bybit’s state-of-the-art security measures — such as multi-factor authentication, regular independent audits and cold storage of assets — ensure that your transactions are conducted safely and transparently. With an interface designed to minimize distractions and provide real-time data, you can quickly monitor market movements and adjust positions. 

Our commitment to a secure and reliable trading experience is evident in our continuous improvements and proactive customer support. These features empower you to make informed trading decisions, fostering confidence in your ability to navigate the dynamic crypto market.

Bybit delivers a secure, robust and intuitive mobile platform that simplifies cryptocurrency trading for everyone. In this guide, we’ve explored how to set up an account, fund it and execute various types of trades — spot, margin and derivatives — using a fully localized and user-friendly interface. Our Unified Trading Account and comprehensive risk management tools ensure a smooth trading experience so you can focus on growing your investments.

Looking ahead, Bybit remains dedicated to innovation and excellence in the crypto industry. We continually refine our platform, based on user feedback and market trends, ensuring that you have access to the latest tools and features. Our commitment to transparency and security underpins everything we do as we build trust and empower traders. 

How to trade spot crypto on Bybit app.png

How to trade with the Bybit app

Bitcoin

Investing

 In mid-2023, Bitcoin briefly surged above $30,000, but swiftly plunged to $26,000 in August. This begs the question: Should I buy Bitcoin now while it's below $30,000? This article will help you make an informed decision.

Bitcoin-price-chart.png

Toward the end of June 2023, Bitcoin briefly broke above $30,000, and most people thought the price would skyrocket. However, the price failed to break the strong resistance around $29,000 and stalled for weeks. Eventually, in mid-August 2023, BTC plunged from $29,000 to $26,000 and is still trading sideways around that level.

One question that's always on an investor's mind, especially during this 

: Should I buy Bitcoin now, or could it drop a little further?

While no one is 100% sure that Bitcoin has bottomed out yet, this article explores whether you should buy Bitcoin when it’s still below $30,000 or wait for a major price rally (up/down) to get in.

 is the first successful cryptocurrency to be created and still remains the face of the crypto world. Since its entrance into fintech in 2009, Bitcoin’s transformative power on traditionally rigid and opaque financial systems has been impossible to ignore. Since then, Bitcoin has opened doors to thousands of 

 designed to redefine how money moves in the modern world.

, Bitcoin allows you to instantly and cheaply transfer money and value almost anywhere in the world without the need for centralized intermediaries or middlemen who make the process lengthy and expensive. 

To date, Bitcoin's founder(s) remain anonymous with a pseudonym, 

, associated with the coin's creation. Despite this anonymity, Bitcoin has become a favorite asset class among investors who view it as a legitimate store of value.

Bitcoin has certain properties that, compared to fiat currencies such as the U.S. dollar, make it a great alternative to physical money. One of its most attractive properties is that it can be used as a store of value, which is why it’s commonly referred to as 

. Despite its volatility, Bitcoin has risen in value over the years, increasing by over 38,000%.

Bitcoin’s decentralized governance ensures that no single entity controls it — unlike most currencies, whose mechanics are in governmental hands. As part of a 

 payment network, Bitcoin can be transacted directly with another party without needing a bank to confirm the transaction.

As such, Bitcoin has become a favorite choice for cross-border payments. Traditional remittance systems such as SWIFT can take days to approve transactions, but paying with Bitcoin is nearly instant and can be done at a fraction of the cost.

Of course, this raises the question: Is Bitcoin safe? 

Yes, because all BTC transactions are recorded in a public ledger on a blockchain that’s nearly immutable (i.e., cannot be altered or tampered with). Additionally, each transaction's approval must be verified through Bitcoin mining, which involves cracking a cryptographic algorithm and a consensus mechanism known as 

Furthermore, Bitcoin’s use case has recently been upgraded to include 

, you can own a rare and valuable inscribed 

 with a unique identity, which can be exchanged and tracked on the Bitcoin blockchain.

The crypto market is highly volatile, and Bitcoin is no exception — considering that the world’s top cryptocurrency dropped over 75% in value from $69,000 in November 2021 to below $16,500 one year later.

However, such a decrease isn’t uncommon, since the coin often goes through cyclical price highs and lows, especially when there’s a lot of FUD (fear, uncertainty and doubt) in the market.

Usually, you can’t point to one single occurrence that causes Bitcoin’s price to dip. In the recent price plunge of August 2023, a number of macroeconomic circumstances could have triggered the dip, including the following:

Such events don’t do much to boost investor confidence, especially in an already struggling crypto market. The price plunge isn’t unique to Bitcoin, also impacting other digital currencies that tend to move in tandem with BTC’s price.

Despite an upbeat start to 2023, Bitcoin's price has been getting frail. The drop in August marked BTC’s worst performance in the same month over the past eight years, driving persistent bearish sentiments further. Additionally, September has 

, and price prediction experts believe we could witness another dip in the coming weeks.

That said, when looking at how low Bitcoin prices can go, it's important to consider 

 factors. From a fundamental aspect, macro triggers — such as historical price trends and a higher inflation rate — could adversely impact Bitcoin’s price. On the technical front, it’s crucial to consider 

 that provide insights into a potential downturn, such as bearish chart formations like the 

 to assess the possibility of a breakdown in price support.

Should Bitcoin's price continue to drop, the next support levels to watch are $25,000 (which has been tested slightly) and $22,000. If the price were subsequently to continue to drop, $16,000 is a critical support level for Bitcoin — which, if broken, could see its value slide to $11,000. 

However, experts are of the opinion that Bitcoin will not fall below $10,000 in the long term, given its role as a pioneering and established cryptocurrency with global recognition.

No one knows when exactly Bitcoin will bottom out and reverse the current trend, which crypto enthusiast Michaël van de Poppe 

 the “longest bear market in history” for Bitcoin.

In investment circles, there’s a mantra that goes “buy low, sell high.” Based on this, it may seem that entering a Bitcoin long position at the moment is attractive, due to discounted prices. However, it's also crucial to look at certain catalysts that could drive up Bitcoin's price, making now an excellent time to own some Bitcoin. Let’s look at a few of them.

Every time a miner successfully confirms a Bitcoin transaction by solving an algorithmic puzzle to confirm a block of transactions on the Bitcoin blockchain, they’re rewarded with BTC. After the mining of 210,000 blocks of Bitcoin transactions (approximately every four years), this reward is reduced by 50%.

Initially, Bitcoin miners received 50 BTC for successfully completing a block of transactions. 

 took place in November 2012, reducing the reward to 25 BTC, and the next occurred in July 2016, which lowered the reward to 12.5 coins. The most recent halving, in May 2020, brought the reward down to 6.25 BTC.

Based on this pattern, the next Bitcoin halving is expected to take place in April 2024, and the reward will be cut to 3.125 coins.

Why is Bitcoin halving so significant in the crypto world? Every time the event nears, Bitcoin’s 

 (the mining power needed to confirm a transaction) tends to increase. While a higher hash rate tightens security against 

 on the Bitcoin network, it also translates to a higher mining difficulty, making it harder for miners to mint new Bitcoins.

As such, Bitcoin halving reduces Bitcoin’s supply, which in turn drives Bitcoin’s price and value up since the coin has a finite supply of 21 million coins.

Historically, there's been a lot of frenzy in the crypto world in the months leading up to and after an anticipated Bitcoin halving event. Experts and the crypto community are cautiously optimistic about a significant price appreciation of Bitcoin as each halving event approaches.

As an investor, you can make a strategic decision to buy Bitcoin based on this historical trend, but it isn’t a guarantee of a future increase in Bitcoin’s price. You need to research whether there’s been any growth on the Bitcoin network, and if the ever-increasing mining difficulty could level off mining activity for Bitcoin.

Growing Institutional Interest in Bitcoin

Institutions such as hedge funds, tech firms and other investment firms control a large chunk of the money running the global economy. After years of shying away from cryptocurrencies, these institutions are now evolving and actively adding Bitcoin into their portfolios. According to 

, institutional crypto adoption for the last five years has risen by 14.2%.

Some of the motivations driving increased institutional adoption of crypto include diversification of portfolios, client demand and hedging against turbulent economic times. Tech companies are also exploring Bitcoin and 

 for their innovative, fast and secure payment infrastructure.

In 2023, some notable big names to enter the crypto space have been BlackRock and Fidelity Crypto®, which filed for spot 

 in June. In May, top fintech names such as Goldman Sachs, Deloitte and over 30 other firms 

 the Canton Network, designed for institutional crypto investment assets. 

What does this increased institutional interest mean for Bitcoin? It indicates growing confidence in Bitcoin as a store of value, rather than a purely speculative asset — as was previously the case among retail investors.

Furthermore, it reveals that continued clarity of Bitcoin regulation by governments is boosting investor confidence, especially among institutions that shun ambiguity due to the risk involved. As these institutions continue growing their Bitcoin holdings, we may witness a pump in Bitcoin’s price over time.

Bitcoin regulation has remained a gray area in most countries. Consequently, the legal gaps around Bitcoin and cryptocurrencies have opened the space to fraudulent and criminal activities, such as money laundering, 

. However, recently, especially in 2023, various governments worldwide have moved to develop clearer policies regarding the regulation of cryptocurrencies.

The U.S. Securities and Exchange Commission (SEC) has made strides in requiring crypto exchanges to comply with regulatory requirements. While such regulatory pressure may seem unfriendly to crypto firms, who fundamentally believe in the pseudonymous nature of Bitcoin, it plays a crucial role in stabilizing the market, which will benefit the niche in the long run.

With increased regulation, the speculative nature of crypto assets will diminish and gradually be replaced by the real utility of digital currencies. It will also boost investor confidence because it will increase guidance on protecting their assets. This, in turn, will expedite mass adoption, which is vital for the growth of the cryptocurrency market as a whole. 

 battle against the SEC in the spot Bitcoin ETF case is a crystal-clear example of how heightened regulation fosters enhanced investor confidence. Just after the court ruling on Aug 29, 2023, Bitcoin’s price swiftly shot from $26,000 to almost $28,000 within a day, though it’s since eased to the $27,000 level. 

Biggest Reasons to Consider Selling Bitcoin Instead

While the slump in Bitcoin prices could be attractive to some investors, others may opt to stay away from the market. Two of the biggest reasons to consider selling BTC — or at least not buying it — are high interest rates and rising inflation.

Post-COVID, most economies worldwide have experienced turbulent times. Central banks have been hiking interest rates to try to cool things off. However, these interest rate hikes and runaway inflation point toward a looming recession, dampening the possibility of an upward movement in Bitcoin’s price.

Due to fears of a possible recession and the uncertainty of when the bear market will end, staying away from the market or selling your Bitcoin may be a smart idea (although holding Bitcoin with a long-term mindset is often encouraged). Some investors are liquidating their assets by selling off Bitcoin, or opting to invest in lower-risk assets, such as bonds. 

Possibly. However, this depends on several factors. It’s important to note that Bitcoin and the cryptocurrency market don’t exist in isolation from the global economy. Over the years, there's been a correlation between Bitcoin prices and major indices in the stock market, especially those related to tech companies (though this correlation is dwindling over time). When there's a slump in the stock market — for example, a price drop in the Nasdaq and S&P 500 — the same is generally reflected in Bitcoin’s price.

In order for Bitcoin to return to its all-time high price, there need to be catalysts such as the 2024 Bitcoin halving, clarity in regulatory policies, continued purchase of BTC by institutional investors, additional use cases for BTC (such as Bitcoin NFTs) and a general improvement in global economic conditions.

Without such boosts, Bitcoin may continue to stagnate around the $26,000–$29,000 range, which could accelerate capital flight from exchanges or lead to a further decline in Bitcoin’s price to the next lower major support level.

As the popularity of Bitcoin continues to grow, there’s been a growing number of scams and misleading narratives on how to capitalize on the world’s top cryptocurrency. Following are some crucial tips that you may find helpful when buying Bitcoin.

One of the easiest ways to buy Bitcoin is through a crypto exchange. Unfortunately, some of these exchanges have disappeared with investors' funds, due to weak systems and the general unregulated nature of the crypto space.

As such, you need to transact Bitcoin through a reputable crypto exchange such as 

. By opting to buy Bitcoin through Bybit, you’ll enjoy a simple and straightforward buying experience with the platform's user-friendly interface.

 can be a confusing process. As such, the platform has simplified buying Bitcoin into a 

. First, you'll need to download the Bybit app or 

Once you've registered and been verified, you'll need to link your credit or debit card, fill out a purchase order, authorize the transaction and wait for the confirmation. Bybit prioritizes security through rigorous testing and regular 

 programs to ensure you can buy Bitcoin safely and securely.

Bybit also offers other ways to trade and invest in Bitcoin through 

he Bitcoin market is highly volatile, with extreme price peaks and troughs. In order to minimize risk when buying Bitcoin, you can use 

 (DCA), which involves purchasing small amounts of an asset at regular, scheduled intervals at a fixed dollar value, based on changes in market price.

The strategy will earn you profits in the long run because it smoothes out the investment price over time, rather than making a lump-sum purchase. DCA has been around for years and is often used by investors with low-risk tolerance, or those beginning their investment journey.

Once you decide on the amount of funds you want to commit to buying Bitcoin, you can opt to DCA manually or through automated tools like the 

Should You Buy Bitcoin Now While It's Still Below $30,000?

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards