Investors sound the alarm – BTC ETF approval can trigger a bullrun!
1 min readToday in the crypto market has brought positive news again. In addition to Ethereum, which has grown sharply since the launch of the London Hard Fork, BTC also climbed upward. A series of new BTC ETF news has pushed BTC by 9%.
We are one step closer to approving the BTC ETF
We recently saw Gary Gesler, Chairman of the US Securities and Exchange Commission. He confirmed that several new ETF applications had been submitted. Investors consider this factor to be very important and hope that the expected approval is approaching.
SEC chairman said he’d be more open to a #BTC ETF if it was based on futures.
24hrs later, both Invesco and ProShares have filed Futures-based #BTC ETFs.
LFG! 🚀
– BTC Archive 🗄🚀🌔 (@BTC_Archive) August 5, 2021
Analyst Will Clemente commented on the current situation for BTC. On his chart we can see the performance of BTC from the past. The yellow line represents the resistance of the so-called “Dead cat” in 2017, we also see the support shown from January 2021 and the level below which the price fell during the May correction.
“Currently, more than half of the total number of banks appear on the securities market. In my opinion, the key level will be the price of $ 54,000, which must be monitored for confirmation and rejection. “
The total market capitalization of cryptocurrencies currently stands at $ 1.662 trillion and the BTC dominance rate is 45.6%.
