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SEC Delays Fuel Bitcoin Unwinding
Bitcoin prices surged higher once again yesterday with BTC futures rallying almost 10% off the week’s lows yesterday. The move came amidst news that the SEC has deferred ruling on the Hashdex Bitcoin ETF until 2024, having made a similar ruling on other crypto ETF applications. Judging by the market reaction it seems the interpretation is that a delay isn’t a rejection and so optimism remains intact, keeping BTC supported for now though we are seeing some unwinding today. Earlier this week, a sharp drop in US inflation saw traders quickly repricing their Fed rates outlook. With inflation now at 3.2% from 3.7% ... (full story)
