Bitcoin Breaks Another Price Ceiling as ETF Decision Gets Closer
Bitcoin ($BTC) smashed another price ceiling with the king coin crossing the $45k price mark, as the crypto market primed itself for the volatility expected to accompany the Bitcoin ETF decision.
Why Approval of Bitcoin ETF is Not Important Any More
The approval of a spot Bitcoin ETF is not important any more, as it would not have a significant impact on the Bitcoin market or the adoption of Bitcoin. Also, reasons why the SEC has not approved Bitcoin ETF, what is the delay, and will the delay make any difference.
Earlier, BTC had hovered over the $44.5k resistance level but a 10% price increase on the daily timeframe saw Bitcoin flip the level to support. With BTC trading at $46.6k as of the time of writing, the price action showed an increased possibility of Bitcoin hitting the $50k mark in the short to medium term.