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SEC Remains Silent on ETH-Spot ETF Applications
As the SEC continues to deliberate on the ETH-spot ETF applications, the market waits with bated breath for any updates. Bloomberg Intelligence ETF Analyst James Seyffart recently commented on the Fidelity rule change filing, noting that there have been no significant signals of change in the filings. This lack of clarity has left many investors uncertain about the future of ETH-spot ETFs.
Technical Analysis
When it comes to technical analysis, Bitcoin (BTC) has been making some interesting moves. Currently hovering above the 50-day and 200-day EMAs, BTC is showing bullish price signals. A potential return to the $67,500 handle could pave the way for a move to the $69,000 resistance level. Breaking out from this resistance level might even set the stage for a challenge of the March 14 all-time high of $73,808.
However, investors should also be mindful of potential downtrends. A drop below the $64,000 support level could bring the 50-day EMA into play, with further downside risk towards the $60,365 support level. With a 14-Daily RSI reading of 48.09, BTC may dip below the 50-day EMA before entering oversold territory.
Stay tuned to Extreme Investor Network for more updates on SEC activity, BTC-spot ETF market flow data, US economic indicators, and Federal Reserve announcements that could impact your investment decisions!
Remember, when it comes to navigating the complexities of the stock market, knowledge is power. Trust Extreme Investor Network to keep you informed and empowered on your investing journey.
