Bitcoin Rebounds Above $43K as Investors Anticipate SEC Decision on Spot Bitcoin ETF
• Bitcoin traded above $43,000 on Thursday, recovering some losses after a leverage flush sent it down 7% on Wednesday • Lucas Kiely, CIO of Yield App, expects bitcoin to rally to $50,000 this month if the SEC approves a spot bitcoin ETF • Major tokens like SOL, ETH, and ADA started stabilizing early Thursday after dropping over 10% in the past 24 hours • A futures unwinding caused over $600M in liquidations Wednesday, the most in a year, while open interest fell by $5B • While some expect the SEC to reject spot bitcoin ETF proposals in January, Kiely believes approval is likely due to pressure from major asset managers