[ad_1]
Bitcoin held above $46,500 on Tuesday morning after briefly touching $47,000 because the ETF race ramps up. The cryptocurrency has gained round 5% over the previous 24 hours. Whereas most market analysts say the U.S. Securities and Trade Fee will approve a spot bitcoin exchange-traded fund, some don’t see this occurring. Youwei Yang, the chief economist at BIT Mining, stated in an electronic mail to CoinDesk that he thinks no spot bitcoin ETFs shall be authorized within the close to future. Somewhat, Yang expects the SEC to delay approvals for at the least one other three months. “A delay with some causes or excuses may nonetheless probably happen, similar to questioning of manipulative behaviors typically noticed within the crypto market which can be nonetheless unclear, and its felony or terror actions some congress members claimed that crypto has concerned,” Yang wrote. Different analysts suppose the information has already been priced in, Matteo Bottacini, a dealer at Crypto Finance, stated that almost all market contributors have been well-positioned for a while now, limiting the upside potential.
[ad_2]
Source link