BTC price volatility may come from the SEC versus Grayscale, Bitcoin analysts suggest.
Bitcoin analysis flags liquidity waiting in the wings above and below the current BTC price range, while GBTC erases more of its discount.) ranged around the key $26,800 mark for a second day on Oct. 13 with a decision due in United States regulators’ battle with crypto investment giant Grayscale.
“We have a very clear and seemingly controlled ‘stairstep’ down on price here. Clear low timeframe breakdowns, retests, and continuation,” he “We are leaving behind equal lows right below us, so ideally I’d like to see these cleaned up before a reversal. Considering we have bids stacked above and below us, a push to the local highs into asks followed by a rejection and sweep of our lows into the waiting bids and local demand seems like the perfect way to form a reversal here. Let’s see how things develop.
On Oct. 11, GBTC hit its smallest discount to net asset value — the Bitcoin spot price — since December 2021.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Macro factors to spark next crypto bull market in Q2 2024, Real Vision’s Raoul Pal says
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