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As the US SEC nears approval of the Spot ETF, a bullish surge in bitcoin is expected. The impending bullish trend for Bitcoin (BTC) revolves around the awaited approval and launch of the first US Spot Bitcoin ETF. Forecasts hint at the US Securities and Exchange Commission (SEC) greenlighting at least one Spot ETF by January 2024, propelling Bitcoin and altcoin prices.
CRYPTO BREAKING NEWS
— InnovatekMobile (@Neome_com) December 3, 2023
Spot Bitcoin ETF Approval Expectation Raises Bitcoin and Altcoin Prices in the US. The expectation that the first spot Bitcoin ETF in the US will soon be approved and opened for trading continues to increase the prices of Bitcoin… check us out @… pic.twitter.com/fHRTHonIM6
Key figures, including Anthony Scaramucci, CEO of SkyBridge Capital and a cryptocurrency investor, express confidence in ETF approval. Scaramucci’s optimism stems from SEC discussions with BlackRock, the world’s largest asset management company, predicting a positive outcome by January 10, 2024. Despite acknowledging potential delays, he deems it the most logical scenario. Bloomberg’s ETF analysts anticipate a likely SEC approval window between January 5 and 10, 2023.
We @SkyBridge believe the time is long overdue for a spot #Bitcoin ETF. Our letter to SEC:
— Anthony Scaramucci (@Scaramucci) August 14, 2023
Executed surveillance sharing agreements with @coinbase have adequately addressed concerns around market manipulation, and we disagree with @Grayscale letter around notion of prejudicial… pic.twitter.com/vpydASh3z4
Key Bitcoin Levels To Watch – December 3
Following the successful breakout of the falling trendline in October 2023, BTCUSD has been in an upward trend. The current trend of the market aligns with the indication of the MA Cross.
The MACD (Moving Average Convergence Divergence) remains above the zero line as the price keeps expanding to the upside. This indicates the persistence of the bulls in continuously driving the price of the coin to the upside.
BTC/USD Key Levels
Resistance Levels: $37400.00, $43110.00, $48240.00
Support Levels: $31860.00, $28470.00, $24900.00
BTC Metrics
Total Market Capitalization: $1.42T
Bitcoin Market Capitalization: $774B
Bitcoin Volume: $17.7B
Market Rank: #1
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