BITCOIN (BTC) analysis.
The recent approval of the first ETH ETFs in the USA by the SEC marks a significant advance for the crypto market.
This news reflects a change in regulatory perception towards digital assets, underscoring the evolution of the market and the growing acceptance of digital assets in the traditional financial sphere.
There are still several details to be known about these ETFs, such as the associated fees, specific ticker symbols and the exact timeline for their entry into the market, aspects that will be revealed in the coming days. However, the important thing is that ETH is not a Security and that facilitates its inclusion in investment funds and so on. Additionally, political hostility towards the crypto industry in the United States is decreasing, which could open up new opportunities for the sector.
This approval not only has local implications, but also global ones. Sending a strong message to other jurisdictions about the seriousness and permanence of the cryptoasset market is an important step. The London Stock Exchange plans to list BTC and ETH ETNs available to professional investors.
The US House of Representatives recently approved the FIT21 regulatory framework for digital assets, reflecting a significant break in Democratic opposition.
Growing support suggests that eventual approval is possible, which would accelerate the adoption of regulatory frameworks for cryptocurrencies in the United States.
From a technical point of view, we remain within the large channel marked by 60,000-72,000USD, waiting for new catalysts that will move prices out of them. The ETH ETF helped attempt a new attack on $72,000 to end in failure and return to support levels of $66,200. Right now, we have to surpass 68200 USD and 71000. As supports we leave 66200USD before going for 63800. Below we have 60000USD and only if 57000USD is lost will we think about a major correction.
