In the grand theater of finance, where fortunes are made and lost with the flick of a digital coin, 21Shares, that audacious purveyor of exchange-traded products, has unveiled a most intriguing spectacle: a dramatic slashing of management fees for its Bitcoin Ethereum Core ETP, affectionately dubbed ABBA. 🎤
This bold maneuver, as they proclaim, is designed to usher in an era of affordability and accessibility for the weary investor, who has long been burdened by the weight of exorbitant fees. A press release, dripping with optimism, heralds this change.
With fees now reduced to a mere 0.49%, the siren call of the market beckons, especially as the titan Bitcoin, that ever-volatile beast, finds itself at a multi-month low of $79,059.43, according to the oracle of CoinMarketCap. 📉
Ah, but the allure of ABBA lies not just in its cost-effectiveness; it offers a gateway to the shimmering realms of Bitcoin and Ethereum, those digital deities that together command a staggering 69.8% of the crypto cosmos. 🌌
And lo! The ETP has made its grand entrance onto the hallowed grounds of the Xetra exchange, the Deutsche Börse’s premier platform for such financial curiosities, effective March 12, 2025. A date to mark, indeed!
Mandy Chiu, a luminary at 21Shares, waxes poetic about this fee reduction, suggesting it will open the floodgates for a broader audience to partake in the digital currency feast. 🍽️
Bitcoin (BTC) at a Crossroads
As the market dances to its own chaotic rhythm, Bitcoin (BTC) and Ethereum (ETH) find themselves at a critical juncture, a crossroads of fate. Crypto analyst Ali Martinez, with the gravitas of a modern-day oracle, posits that Bitcoin may be on the cusp of an 8% breakout, with key support levels at $79,270 and $69,450. 🧙♂️
#Bitcoin $BTC could be on the verge of an 8% breakout!
— Ali (@ali_charts) March 12, 2025
Bitcoin, in its infinite wisdom, has crafted an ascending triangle pattern, a bullish herald of potential glory. The breakout level, a tantalizing $83,000, aligns with the horizontal resistance line, a steadfast guardian of cryptocurrency dreams.
Yet, the recent descent from the lofty heights of $100,000 to the depths below $80,000 has been a tale of woe, attributed to Wall Street’s fickle heart, fears of a looming recession, and the specter of tariffs under the watchful eye of President Trump. 😱
Moreover, the absence of fresh BTC purchases under Trump’s strategic reserve plan has left investors in a state of disillusionment, adding to the downward pressure. But fear not, for the technical indicators whisper of a potential reversal. The relative strength index (RSI) has formed a bullish divergence, suggesting that while BTC prices may falter, the momentum of despair is waning. 📈
RSI is setting lower lows.
Bitcoin is setting higher lows.
A massive rally comes next!
— Mister Crypto (@misterrcrypto) March 10, 2025
This pattern, a harbinger of hope, aligns with the expectation that BTC may respond favorably to forthcoming macroeconomic revelations, such as the US consumer price index (CPI) report. 📊
Ethereum Faces Its Own Trials
Meanwhile, Ethereum stands at the gates of resistance, facing a formidable zone between $2,250 and $2,610, a battleground where over 65 million ETH has been amassed by 12.28 million investors. 🏰
#Ethereum faces a key resistance zone between $2,250 and $2,610, where 12.28 million investors accumulated over 65 million $ETH!
— Ali (@ali_charts) March 12, 2025
If ETH can breach this formidable fortress, it may pave the way for further gains, buoyed by the rising tide of institutional adoption and ETPs like ABBA, which promise to unveil the wonders of Ethereum to the masses. 🌊
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2025-03-12 19:43