Bitcoin Rebounds Above $44K As Analysts Dismiss Predictions of SEC Rejecting Bitcoin ETF
• Bitcoin rebounded back above $44,000 after a flash crash caused by a report predicting the SEC would reject Bitcoin ETF proposals this month
• Analysts dismissed the report as lacking substance and doubled down on predictions that the first Bitcoin ETF is likely to be approved within a week
• Bitcoin's price has become deeply interconnected with the prospects of a spot Bitcoin ETF approval
• An approved Bitcoin ETF could expose $14 trillion worth of assets to Bitcoin and constitute a major legitimization event
• Since October, Bitcoin has climbed nearly 65% in value on hopes related to Bitcoin ETF approval