Oziegbe
Consequently, the US Securities and Exchange Commission (SEC) once again postponed a decision on a one-time Bitcoin ETF registration from several companies, including Blackrock, Invesco, Valkyrie, and Bitwise.
The delay was announced Tuesday, following a congressional hearing in which SEC Chairman Gary Gensler was questioned at length. Most of these companies applied to join the Bitcoin ETF in June 2023.
And despite criticism that the US is actively targeting crypto companies, the SEC’s impending approval could signal a seismic shift in its approach. Bitcoin bulls have been unable to keep BTC price above $30,000.
The Crypto market is still riding on bullish reversal trend despite an uptick in the dollar and regulatory delays on a Bitcoin spot ETF.
Bitcoin price is currently testing a key level ($27k) and its reaction could determine market price action in the medium term. Therefore, it will be useful to carefully analyze possible scenarios.
We’re eager to hear your thoughts. Join the discussion!