💥🔥The US Securities and Exchange Commission (SEC) has extended its review period for Hashdex’s proposal for a combined spot Bitcoin and Ethereum exchange-traded fund (ETF).
💦Yesterday, I posted an article warning about an impending dump in Bitcoin’s price, and I was met with skepticism and even jokes from some who didn’t believe a downturn was on the horizon.
🔥so it means #bitcoin☀️ will fall and touch the bottom. Get ready for a big Dump🔥
In an official notice on August 9, the SEC emphasized the need for “sufficient time to consider the proposed rule change and the issues raised therein.” The agency pushed the decision deadline to September 30, 2024.
👉If this approved, the Hashdex Nasdaq Crypto Index US ETF would provide investors with direct exposure to $BTC and $ETH .
👀 Because price action indicates indecision in the market, with multiple attempts to break above resistance levels but facing selling pressure.
✨This development comes after several exchanges and asset managers moved to include options trading and listing on their spot Bitcoin and Ethereum ETFs. Earlier this week, BlackRock submitted a filing for options trading on its spot Ethereum ETF to the SEC through Nasdaq. On the other hand, however, Seyffart noted that three exchanges have retracted their applications to list options for spot Bitcoin ETFs.
💥In this case, the upper limit seems to be around the $62,000 level, and the lower limit is around the $54,000 level.
There’s definitely some movement on Bitcoin ETF options. CBOE just withdrew their application for options on spot Bitcoin ETFs. Which sounds like a bad thing at first… But at the same time, they just re-filed a brand new and updated application
💥False Breakouts: Be cautious of false breakouts, as the price might retest the broken support level before continuing its downward move.
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