Crypto News Today: With the beginning of the Grayscale Vs SEC lawsuit arguments, the crypto market is now banking on two high profile cases, the other one being the XRP lawsuit. It has long been argued that the XRP case could potentially decide the fate of the entire crypto market. Interestingly, both the lawsuits are at the final stages, with the XRP community awaiting the Summary Judgment and Grayscale expecting a decision on the spot ETF application as early as second half of 2023.
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Crypto Bull Run Triggers
In the backdrop of a stressful year 2022 for the crypto ecosystem, the Silvergate liquidity crisis came as the first major setback of 2023. So much so that the recent stock market rally was not enough to spur Bitcoin price recovery. However, three outcomes over the next few months could potentially trigger the onset of the next crypto bull run. Ripple’s victory against the SEC and the subsequent relisting of XRP on US exchanges could be a major bullish event for the market.
Similarly, if Grayscale goes on to get its GBTC spot Bitcoin ETF application approved, it would mean huge regulatory validation for the ecosystem. Another bullish event could be if the war in Ukraine ends, which could bring some relief to the broader markets. Hence, the Bitcoin price will likely stand a chance to test crucial resistance levels if any of these possibilities go on to be true. Although it is a bit far fetched for now, the Bitcoin halving in 2024 could also have a major impact on crypto prices.
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