The price of crypto has been underpinned in recent weeks by the expectation that approval for Bitcoin exchange traded fund (ETF) applications by the US Securities and Exchange Commission is imminent. Or at least in the days and weeks ahead.
Analysts are speculating that starting from today, November 9, the SEC has a timewindow to approve all 12 spot Bitcoin ETF filings. This includes the Grayscale conversion of its GBTC trust product to a fund. The window is said to last until November 17. As with this whole (potential) approval saga the time window is not set in concrete but its a possibility.
In a nutshell, analysts cite their reasoning as being that the SEC set November 8 as the last day of the comment period when it extended the deadline for a number of pending spot Bitcoin ETF filings.
This seems to be rather thin but the whole process has been devoid of much substance.
Regardless, BTC catching a bid:
Here’s a Heikin Ashi chart:
- just for a change
- depending on the time frame you like to trade some of the trend swings have been captured with HA charts nicely
This article was written by Eamonn Sheridan at www.forexlive.com. Source