Bitcoin (BTC) Slumps on ETF Rejection Rumor, All Eyes on the SEC – DailyFX

0

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.
Recent Market News Headlines
Free Guide
Introduction to Forex News Trading
Recent Trading Strategies Headlines
Free Guide
The Fundamentals of Range Trading
Recent Currencies Headlines
Recent Commodities Headlines
Recent Stocks Headlines
Recent Cryptocurrencies Headlines
Free Guide
How to Use IG Client Sentiment in Your Trading
Trading Tools
Rates
Live forex rates at a glance
Earnings Calendar
Keep track of companies that are about to announce their earnings
Sentiment
Discover who is going long and short
DNA FX
Check what kind of trader you are
Economic Calendar
Explore key global events on the horizon
Live Chart
Latest price data across forex and major assets
Support & Resistance
View S&R levels for forex, commodities and indices
View All Tools
Economic Calendar
Free Trading Guides
Forex for Beginners
Traits of Successful Traders
Cryptocurrency Trading
Notify me about
H
M
L

Note: Low and High figures are for the trading day.
Note: Low and High figures are for the trading day.
Note: Low and High figures are for the trading day.
Note: Low and High figures are for the trading day.
Note: Low and High figures are for the trading day.
Note: Low and High figures are for the trading day.
Gold Prices Break Below Major Support Zone. What Does Technical and Fundamental Analysis Suggest?
Share:
A bearish report by crypto financial services company Martixport is said to be behind the sharp sell-off in Bitcoin. The report suggested that despite all the recent meetings between ETF applicants and SEC staff, and subsequent amendments, all applications will fall short of SEC requirements and will be denied in January. The report added that these requirements may be fulfilled by Q2 2024.
Bitcoin has been pushing higher over the past months on spot ETF fever with BTC/USD rallying from around $25k in mid-September. Volume and leverage have also been picking up recently and the speed of today’s sell-off suggests that leveraged long positions are being flushed out of the market. It is worth noting that today’s current quote ($42.4k) is back at levels last seen two days ago.
If this market rumor is confirmed by the SEC, Bitcoin may well fall further with $38k as the next stopping point. If unconfirmed BTC will likely press back towards the $44k area and wait for further announcements.
Charts via TradingView
What is your view on Bitcoin – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
DISCLOSURES
Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Forex trading involves risk. Losses can exceed deposits. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.

Information presented by DailyFX Limited should be construed as market commentary, merely observing economical, political and market conditions. This information is made available for informational purposes only. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice. Any examples given are provided for illustrative purposes only and no representation is being made that any person will, or is likely to, achieve profits or losses similar to those examples. DailyFX Limited is not responsible for any trading decisions taken by persons not intended to view this material.
From December 19th, 2022, this website is no longer intended for residents of the United States.
Content on this site is not a solicitation to trade or open an account with any US-based brokerage or trading firm

source

Leave a Reply

Your email address will not be published. Required fields are marked *