Bitcoin Price Holds Steady as Traders Await SEC Decision on Spot BTC ETF

Bitcoin price remained rangebound around $26,800 as markets await SEC decision on appeal of court ruling allowing GBTC to become a spot BTC ETF.

Traders eye potential bullish reversal if SEC does not appeal, though some want to see more price action confirmation first.

GBTC discount to NAV continues shrinking, now at lowest level since Dec 2021 as hopes build for spot ETF approval.

Analysts watching key liquidity levels on both sides as potential trigger points for next major BTC price move.

New $25K target set for Bitcoin if bulls can't reclaim key exponential moving averages lost earlier this week.