I-Bitcoin Falls ukuya kwi-63,000 yeedola Ukulandela ukwaliwa kwe-ETF ye-VanEck ye-BTC

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The United States Securities and Exchange Commission (SEC) has, yet again, rejected the spot Bitcoin (BTC) exchange-traded fund (ETF) presented by VanEck. This decision comes after several weeks of delayed approval on the product by the SEC.

VanEck has presented several spot BTC ETFs to the watchdog over the past several years but has had no success in courting their approval.

This comes after the SEC approved two futures-backed Bitcoin ETFs in October, one of which was VanEck’s Strategy ETF. Following this approval, many spectators believed that the Commission had become more open-minded to a spot BTC ETF. However, this has not been the case.

The SEC rejected the VanEck ETF filing last Friday and announced that it could not list its shares on the CBOE BZX Exchange.

The official document from the financial regulator read that:

“This order disapproves the proposed rule change. The Commission concludes that BZX has not met its burden under the Exchange Act.”

Also, the Commission noted that BZX and VanEck failed to address any of the previous hurdles preventing the approval of older ETFs, noting that they were “designed to prevent fraudulent and manipulative acts and practices” kwaye “to protect investors and the public interest.”

Meanwhile, SEC Chairman Gary Gensler recently noted that a futures-based ETF is a safer option for investors, adding that this is why only such funds have scaled approval in the US.

Amanqanaba eBitcoin abalulekileyo omawubukele - nge-14 kaNovemba

BTC regained a mild bullish tone on Sunday following a drop to the $63,000 pivot zone on the VanEck spot BTC ETF rejection by the SEC. The benchmark cryptocurrency now confirms the $63,000 level as the base of the current trend as bulls prepare to drive the price higher soon.

I-BTCUSD-Itshathi yeYure ezi-4

BTC has also completed a full retracement from above 1192.23 (overbought conditions) on my 4-hour MACD chart, further bolstering the possibility of a sharp bullish move in the near term. That said, our benchmark cryptocurrency needs a candle-close above the $65,000 mark to kickstart another bull run.

Okwangoku, amanqanaba okumelana nam akwi-65,000 yeedola, i-66,000 yeedola, kunye ne-67,000 yeedola, kwaye amanqanaba am enkxaso angundoqo akwi-$64,000, i-$63,000, kunye ne-$62,000.

Imali iyonke yentengiso: $ 2.83 zezigidi

Imali yeNtengiso yeBitcoin: $ 1.21 zezigidi

I-Bitcoin Dominance: 43.1%

Inqanaba lentengiso: #1

 

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UAzeez Mustapha

U-Azeez Mustapha yingcali kwezorhwebo, umhlalutyi wemali, umhleli weempawu, kunye nomphathi wezezimali ngaphezulu kweminyaka elishumi yamava kwicandelo lezemali. Njengombhali webhlog kunye nombhali wezemali, unceda abatyali mali baqonde iikhonsepthi ezintsonkothileyo zemali, ukuphucula izakhono zabo zotyalo-mali, kunye nokufunda ukulawula imali yabo.

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