市值
24小时
6566
Cryptocurrencies
51.43%
Bitcoin 分享

SEC’s “Crypto Asset Securities” Alert Boosts Spot Bitcoin ETF Prospects – Here’s Why

SEC’s “Crypto Asset Securities” Alert Boosts Spot Bitcoin ETF Prospects – Here’s Why


NewsBTC
2023-12-09 00:00:35

As anticipation builds for the long-awaited approval of a spot Bitcoin ETF by the US Securities and Exchange Commission (SEC), an encouraging sign has emerged, further increasing the likelihood of approval. The SEC issued an investor alert regarding “crypto asset securities,” prompting speculation that the spot Bitcoin ETF may be closer than ever. Spot Bitcoin ETF Approval On The Horizon? The recent investor alert issued by the SEC has garnered significant attention in the cryptocurrency community. While the alert does not explicitly mention the spot Bitcoin ETF, many market participants believe it is a positive indicator for its potential approval. The parallel between the investor alert and the approval of Bitcoin Futures adds to the growing optimism surrounding the spot Bitcoin ETF. Before approving Bitcoin Futures, the SEC issued similar alerts and warnings, indicating their concern and engagement with the underlying asset class. Related Reading: Bitcoin Has Been In A Class Of Its Own For The Last 10 Years, Top Expert Says Consequently, market observers, including Bloomberg’s ETF expert Erich Balchunas, are interpreting the investor alert on “crypto asset securities” as a potential precursor to the approval of a spot Bitcoin ETF. Balchunas stated: Oh snap, SEC tweeting out educational materials, warnings on crypto investing, which is something they also did ahead of $BITO It is important to note that the SEC will evaluate various factors, including investor protection, market integrity, and compliance with existing regulations, before making a final determination on the spot Bitcoin ETF. However, given the increased attention and progress in cryptocurrency, the issuance of the investor alert signifies a step in the right direction. Potential BTC Surge To $48,000 Renowned crypto analyst, Crypto Con, has made interesting observations regarding BTC’s current market dynamics that shed light on the potential next steps for the largest cryptocurrency on the market. According to Crypto Con, money has been pouring into BTC at a rate not witnessed since the last cycle’s peak, with historical data indicating similar patterns on only five prior occasions. This influx of funds has heightened the market’s sentiment and created anticipation for potential further price gains. Crypto Con highlights the significance of Bitcoin’s Money Flow Index (MFI), a technical indicator used to measure the strength and volume of funds flowing into or out of an asset, which reached a value of 91.57, historically indicating the presence of additional bullish momentum. Furthermore, the analyst identifies the .618 cycle retrace of weekly candle bodies as a point of interest for potential target ranges. This level aligns with other significant price regions, further bolstering its importance. Crypto Con suggests that Bitcoin’s price could likely reach the range of $47,000-$48,000 based on these target ranges. However, the analyst also notes that significant price increases are often followed by retracements at this stage in the market cycle. Related Reading: Binance Founder Ordered To Stay Put In The US In Ongoing Probe Crypto Con highlights the potential for a retracement after the completion of the current price rise. The analyst identifies the $31,000-$32,000 range as an area of interest for a potential retracement based on long-term data. As of the time of writing, Bitcoin (BTC) is being traded at $43,800, showcasing a noteworthy recovery within the past 24 hours following a retracement below $42,900 on Thursday. While this price rebound is encouraging, it remains uncertain whether the prevailing market dynamics possess sufficient strength to propel Bitcoin beyond its current yearly high of $44,500. There is a possibility that Bitcoin may experience another failed attempt to surpass this level, which could subsequently result in a deeper retracement before witnessing another upward movement. Featured image from Shutterstock, chart from TradingView.com


阅读免责声明 : 此处提供的所有内容我们的网站,超链接网站,相关应用程序,论坛,博客,社交媒体帐户和其他平台(“网站”)仅供您提供一般信息,从第三方采购。 我们不对与我们的内容有任何形式的保证,包括但不限于准确性和更新性。 我们提供的内容中没有任何内容构成财务建议,法律建议或任何其他形式的建议,以满足您对任何目的的特定依赖。 任何使用或依赖我们的内容完全由您自行承担风险和自由裁量权。 在依赖它们之前,您应该进行自己的研究,审查,分析和验证我们的内容。 交易是一项高风险的活动,可能导致重大损失,因此请在做出任何决定之前咨询您的财务顾问。 我们网站上的任何内容均不构成招揽或要约