News
Bitcoin (BTC) News Today: US Spot BTC ETF Inflows Signal Market Breakout
Amid rising hopes of a crypto-friendly White House, news surrounding US spot ETH ETFs has also sparked interest.
SEC Approval for US ETH-Spot ETFs Is Imminent
On Monday, Eric Balchunas, senior analyst at Bloomberg Intelligence ETFs, commented on the state of demand for spot ETH ETFs in the United States. She said,
“[…] The SEC hearing finally got back to the issuers today, requiring them to return FINAL S-1s on Wednesday (including fees) and then file for effectiveness on Monday after the close for a TUESDAY, 7/23 LAUNCH. That is, of course, assuming there are no unforeseen last-minute issues!”
ETH rose 7.37% on Monday, closing the session at $3,487. A spot ETH ETF market in the United States could broaden the investor base and increase demand for ETH.
Investors should remain vigilant despite the positive sentiment. Monitor real-time data and expert commentary to adjust your trading strategies accordingly. Stay up to date with our latest news and analysis to manage cryptocurrency market risk.
Technical Analysis
Bitcoin Analysis
BTC it has settled above 50 and 200 days EMAsending bullish price signals.
A break of BTC from $65,000 could signal a move towards the $69,000 resistance level.
On Tuesday, we will have to take into account data on US retail sales and flows in the US spot BTC ETF market.
On the other hand, a break below the $64,000 support level would bring the 50-day EMA into play.
With a daily RSI reading of 60.95, BTC could rise to the $69,000 resistance level before entering overbought territory.