Bitcoin Price Prediction as BTC Shoots Past $30,000 Resistance Level – How High Can BTC Go This Week?
Bitcoin's price currently stands at $30,558, experiencing a slight drop of nearly 0.50% on Sunday.
The recent rejection of Bitcoin spot-price ETF applications by the US SEC surprised bullish investors hoping to maintain Bitcoin's price above $31,000.
In other news, Cboe has resubmitted Spot Bitcoin ETFs in partnership with Coinbase, although the SEC remains cautious.
Additionally, FTX's successful recovery of billions in assets has positively impacted Bitcoin prices.
Stay tuned as we analyze Bitcoin's potential trajectory and explore the factors influencing its price movement.
The Chicago Board Options Exchange (Cboe) has resubmitted four 19b-4 files for spot Bitcoin exchange-traded funds (ETFs) in response to compliance concerns raised by the SEC.
Notably, Coinbase has been added as a partner in the surveillance-sharing arrangement for these ETFs.
Including Coinbase as an SSA partner in Cboe's filings is a significant development, especially considering BlackRock's previous designation of Coinbase as its SSA partner.
However, it's worth noting that Ark and BlackRock did not resubmit their applications.
Despite approving several futures ETFs, the SEC remains skeptical about the ability of spot Bitcoin ETF sponsors to protect against manipulation and ensure investor safety.
This cautious stance by the regulatory agency has implications for the market. Ongoing deliberations and revisions, along with the involvement of Coinbase, may influence investor sentiment and potentially impact Bitcoin prices as market participants assess the prospects of a spot Bitcoin ETF within the regulatory landscape.
In a significant development, FTX has successfully recovered approximately $7 billion in liquid assets, with ongoing efforts to locate
Read more on cryptonews.com
