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Crypto Pulse Daily: 21Shares Advances Dogecoin ETF Plans With Amended S-1 Filing

Crypto Moves Faster. Stay Ahead With Bold Insights, Every Day.

El Salvador is nearing a crucial milestone in its Bitcoin initiatives as the International Monetary Fund (IMF) has revealed progress in their negotiation talks. IMF is working with the country to address concerns surrounding El Salvador’s Bitcoin project and the sale of its government-backed e-wallet, Chivo.

Crypto ETF issuer 21Shares has indicated it still intends to launch its Dogecoin ETF, as it just filed an amended S-1 with the U.S. Securities and Exchange Commission (SEC). This comes as DOGE ETFs continue to underperform, extending their streak of zero flows. 

The Stock Market rose modestly as crypto market consolidation sparked a fresh Bitcoin vs Gold debate. Gold continued to soar, passing the previous record of $4,400 on Monday. Silver was close behind with good profits.

Meanwhile, Bitcoin was also under pressure, as it was fluctuating below the $88,000 mark as the momentum of investors slowed. The S&P 500 overcame macroeconomic uncertainty to trend upward.

Bitcoin price moves into the final trading sessions with uncertainty around upside continuation. BTC price has struggled to reclaim higher resistance despite earlier optimism. The market structure is now an indication of consolidation rather than growth. The participants re-evaluate the end-year expectations when liquidity becomes thin and volatility narrows. 

Notably, Bitcoin price remains capped below zones that rejected prior advances. Predictions are more and more based on probability-based indicators as opposed to belief.