Posted 1/4/2024, 4:46:00 AM
Bitcoin Dips on Rumors of SEC Rejection, But Approval Still Expected for Spot ETFs
- Bitcoin price dropped 6% due to speculative report of SEC rejecting spot BTC ETFs, but outlook remains bullish
- Report suggesting rejection was from unknown source Matrixport and was discredited by senior analyst Eric Balchunas
- Approval still expected between January 8-10; mainstream media also expecting likely approval
- Bullish divergence forming technically, with Bitcoin holding key uptrend line support
- Bitcoin futures ETFs approved but spot version still awaiting SEC approval; seen as likely just a matter of time