Chain News Daily Today TheBitTimes.com

Bitcoin (BTC) is trading above the $47,000 level, playing exactly as reported by Finbold on January 27. Now, BTC may drop below $40,000 under specific conditions for a sell- off event. Interestingly, this expected bull rally to around $48,000 was only the first part of a broader analysis by CrypNuevo . The accurate professional trader foresaw the run as needed for Bitcoin seeking lower prices in March. If the next steps continue to play out, according to CrypNuevo ’s Analysis , Bitcoin might drop to the $36,500 zone. The leading cryptocurrency will find relevant support in this area, possibly bouncing back up immediately. Before that happens, the analyst says BTC can still seek the top of the wick at nearly $49,000. This would require a consolidation at around $47,000 during the weekend. BTC/USD daily price chart. Source: CrypNuevo Bitcoin sell-of invalidation Picked for you Institutional investors are actively deploying capital to this crypto startup 2 hours ago ...

Grayscale’s Bitcoin Trust conversion into an ETF seems imminent as the SEC’s attempt to block fails, paving the way for possible broader Bitcoin spot ETF approvals in the US. The long-awaited conversion of the Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin (BTC) exchange-traded fund (ETF) appears close at hand following a failed appeal by the Securities and Exchange Commission (SEC) to block the move. According to an Oct. 16 video by famous cryptocurrency analyst CryptosRUs, the deadline for the SEC to appeal a recent court ruling in favor of Grayscale has passed. The order struck down the SEC’s reasons for previously denying conversion of the Trust into a spot Bitcoin ETF. With no valid objections left after declining to appeal, he suggests Grayscale can now reapply for conversion with high chances of approval. The SEC would have to provide a new rationale to deny the application, which it is unlikely to do after losing in court. You might also like...