![\"This](\"https:\/\/img.decrypt.co\/insecure\/rs:fit:1536:0:0:0\/plain\/https:\/\/cdn.decrypt.co\/wp-content\/uploads\/2021\/11\/Coins6.2%402x.png@webp\")
<\/span>Crypto is down this week, although Bitcoin and Ethereum proved more resilient than a few altcoins.\u00a0<\/span><\/p>\n Prices fell\u2014but not by much\u2014driven downward by a globe-rattling Israel\u2013Palestine war and persistent inflation readings in the latest Consumer Price Index (CPI) <\/span>report<\/span><\/a> by the U.S. Bureau of Labour Statistics. Broadly, investors tend to switch to lower-risk assets in times of political and economic uncertainty.\u00a0<\/span><\/p>\n Narket leader Bitcoin (BTC), which capitalizes just over half a trillion dollars of the trillion dollar crypto market, dropped 3.7% over the last seven days and currently changes hands at $26,928, according to <\/span>CoinGecko<\/span><\/a>.\u00a0<\/span><\/p>\n The second largest cryptocurrency by market capitalization, Ethereum (ETH), had a setback this week of 5.4%. It currently trades for $1,554\u2014its lowest price level <\/span>since March<\/span><\/a>.\u00a0<\/span><\/p>\n Virtually no gains were posted by any of the top thirty cryptocurrencies this week, but several coins depreciated substantially more than the market leaders this week, including Polygon (MATIC), which fell 8.6% to $0.521054, and Polkadot (DOT), which fell 8% to $3.76.<\/span><\/p>\n Avalanche (AVAX) crashed hard, shedding 12.4% in seven days to trade at $9.19 on Saturday.\u00a0<\/span><\/p>\n There was very little adoption news in the U.S. or elsewhere this week. Similarly, there were no political developments concerning crypto regulation as authorities around the world instead followed and responded to the situation in the Middle East.\u00a0<\/span><\/p>\n On Wednesday, Cathie Woods\u2019 Ark Invest <\/span>refiled its application<\/span><\/a> for a Bitcoin spot exchange-traded fund (ETF). An ETF is an investment product for investors who want to buy into Bitcoin\u2019s growth without exposing themselves to the risks of directly holding it themselves.\u00a0<\/span><\/p>\n Ark Invest\u2019s fresh filing notes potential risks that could affect the price of the ETF, including community-driven changes to Bitcoin\u2019s source code and issues related to the network\u2019s electricity consumption.\u00a0<\/span><\/p>\n On Friday, Stablecoin giant Tether appointed the company\u2019s Chief Technology Officer (CTO) <\/span>Paolo Ardoino as CEO<\/span><\/a>. He will be assuming the role formerly held by Jean-Louis van der Velde (JL) in December.<\/span><\/p>\n Finally, there is now a growing <\/span>chorus of voices<\/span><\/a> predicting that the SEC will soon approve a Bitcoin spot ETF. On Friday, <\/span>reports hit the press<\/span><\/a> claiming the SEC has decided not to appeal a verdict from August that ruled that the regulator\u2019s rejection of crypto asset manager Grayscale\u2019s proposal to convert its flagship Bitcoin fund into an ETF was \u201carbitrary and capricious.\u201d<\/span><\/p>\n Looks like another green light on the road to a U.S. ETF.<\/span><\/p>\n Illustration by Mitchell Preffer for Decrypt. Crypto is down this week, although Bitcoin and Ethereum proved more resilient than a few altcoins.\u00a0 Prices fell\u2014but not by much\u2014driven downward by a globe-rattling Israel\u2013Palestine war and persistent inflation readings in the latest Consumer Price Index (CPI) report by the U.S. Bureau of Labour Statistics. Broadly, investors tend […]<\/p>\n","protected":false},"author":2,"featured_media":161856,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-174520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/174520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=174520"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/174520\/revisions"}],"predecessor-version":[{"id":174522,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/174520\/revisions\/174522"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/161856"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=174520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=174520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=174520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}In the news<\/span><\/h2>\n
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