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Recently, Bloomberg Intelligence ETF Analyst James Seyffart shared some intriguing updates on 19b-4 amendment filings. Issuers such as Grayscale, BlackRock (BLK), and Bitwise Invest were among those who filed 19b-4 amendments. Additionally, ARK/21 Shares, Fidelity, Franklin, Invesco/Galaxy, and VanEck also made their 19b-4 amendments on Tuesday.
Seyffart also speculated that the Whitehouse may have pressured the SEC to reverse its stance on ETH-spot ETFs. According to Seyffart, this decision may have been influenced by political factors, with concerns about potential legal battles and voter sentiment playing a role.
On a different note, Bloomberg Intelligence Senior ETF Analyst Eric Balchunas anticipates the SEC’s decisions to be announced around 1600 New Jersey time.
In terms of technical analysis, let’s dive into some insights on Bitcoin. BTC has managed to stay above the 50-day and 200-day EMAs, signaling a bullish trend. If BTC manages to break out from $70,000, it could potentially reach the all-time high of $73,808, with further upward momentum towards the $75,000 mark.
However, it’s essential to consider factors such as US economic indicators, US BTC-spot ETF market flow data, and the SEC decision on the ETH-spot ETF applications when assessing the potential trajectory of BTC. Conversely, a break below the $69,000 support level might lead to a bearish trend towards the 50-day EMA and the $64,000 resistance level.
With a 61.57 14-Daily RSI reading, BTC could potentially surge towards the all-time high before entering overbought territory.
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