Bitcoin price has been moving sideways for nearly 50 days now, with no directional bias in sight. With volatility hitting all-time lows, investors are
While Seyffart is suggesting a potential rejection from the SEC, most experts are expecting a similar outcome. This outlook is obvious, considering the regulator’s stance on all things crypto.
Since the SEC is likely going to reject the filing, investors can expect Bitcoin’s dry volatile spell to continue as it slowly struts lower. that a “delay is almost a certainty and likely fully priced in.” He adds that if the SEC did approve “ARK ETF” then Bitcoin price would “run and not look back.”Bitcoin price rallied 27% between June 14 and 23 after BlackRock’s announcement of the BTC spot ETF filing.
The imbalance, extending from $30,380 to $31,068, is known as Fair Value Gap since it was created after the Bitcoin price quickly slid lower, creating a price delivery imbalance, favoring sellers. A pullback often ensues after the creation of an FVG, which pushes BTC back into this imbalance, allowing sellers to balance the inefficiency.
The idea behind this bearish outlook is that Bitcoin price has visibly created a local top after a 27% upswing. Therefore, exhaustion of buying pressure coupled with investors booking profits and short-sellers opening short positions would create enough sell-side pressure to kickstart a mean reversion.
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