Ethereum
Bitcoin (BTC) News Today: Focus on BTC-Spot ETF Feeds and ETH-Spot ETFs
James Seyffart, ETF analyst at Bloomberg Intelligence sharing updates on 19b-4 amendment filings. Grayscale, BlackRock (BLK) and Bitwise Invest were among the issuers to file 19b-4 amendments. ARK/21 Shares, Fidelity, Franklin, Invesco/Galaxy and VanEck filed their 19b-4 amendments on Tuesday.
Seyffart believed the White House pressured the SEC to reverse course on ETH spot ETFs, saying,
“It was a political decision. […] I think it was a decision from above, perhaps above the head of the SEC, like Biden, the Biden administrator who decided it wasn’t worth fighting this. We might even lose in court if we try to do this and someone sues us and we lose the votes. People are going to turn to Trump just because of his position, and it’s just not worth it.”
Eric Balchunas, senior ETF analyst at Bloomberg Intelligence waits SEC decisions around 4:00 p.m. New Jersey time.
Technical analysis
Bitcoin Analysis
BTC remained above 50 and 200 days EMAconfirming bullish price signals.
A BTC breakout from $70,000 could support an advance towards the all-time high of $73,808. A breakout of $73,808 could give the bulls a chance to reach the $75,000 level.
US economic indicators, US BTC spot ETF market flow data, and SEC ruling on ETH spot ETF applications should be considered.
Conversely, a BTC breakout below the $69,000 support level could give the bears a run at the 50-day EMA and the $64,000 resistance level.
With a daily RSI of 61.57, BTC could climb as high as the all-time high of $73,808 before entering overbought territory.