How ETF denial from SEC might affect Bitcoin price?

[Eva Green]

Analysts predict a negative short-term price action for bitcoin if the SEC rejects a spot ETF for the cryptocurrency. However, bitcoin's existence is not dependent on an ETF. Markets have fully accepted the idea of the SEC approving a spot bitcoin ETF, but it's worth considering the possibility of continued rejections and their impact on the crypto price. Laurent Kssis, a crypto trading adviser at CEC Capital, suggests a downward move with a target below $30,000, but this must be balanced against other bullish catalysts like the approaching halving. A cluster at $25,000 is highly unlikely unless the SEC is categorical, but hope remains in the back of everyone's mind.
The rejection of the spot Bitcoin ETF could have a significant impact on the market, as it is seen as a sign of institutional acceptance and integration into mainstream financial systems. The SEC, which rejected Grayscale's attempt to convert its Bitcoin Trust into a spot ETF, has faced legal turmoil in the past. The rejection could cast a bearish shadow on bitcoin's price in the short term, necessitating a period of adjustment and realignment. Other crypto assets, such as ether (ETH), may also face repercussions, as the SEC is likely to shift its focus to spot ether ETF applications.

 

[eliasisaac5]

Analysts predict a negative short-term price action for bitcoin if the SEC rejects a spot ETF for the cryptocurrency. However, bitcoin's existence is not dependent on an ETF. Markets have fully accepted the idea of the SEC approving a spot bitcoin ETF, but it's worth considering the possibility of continued rejections and their impact on the crypto price. Laurent Kssis, a crypto trading adviser at CEC Capital, suggests a downward move with a target below $30,000, but this must be balanced against other bullish catalysts like the approaching halving. A cluster at $25,000 is highly unlikely unless the SEC is categorical, but hope remains in the back of everyone's mind.
The rejection of the spot Bitcoin ETF could have a significant impact on the market, as it is seen as a sign of institutional acceptance and integration into mainstream financial systems. The SEC, which rejected Grayscale's attempt to convert its Bitcoin Trust into a spot ETF, has faced legal turmoil in the past. The rejection could cast a bearish shadow on bitcoin's price in the short term, necessitating a period of adjustment and realignment. Other crypto assets, such as ether (ETH), may also face repercussions, as the SEC is likely to shift its focus to spot ether ETF applications.

The market sentiment around the ETF decision is mixed, with some predicting a negative impact on Bitcoin's price.

 

[madison1122]

Investors are closely watching the SEC's stance on the ETF, as it may impact Bitcoin's short-term price

 

[harrie blaze]

If the ETF is rejected, we might see a temporary dip in Bitcoin's value. But remember, Bitcoin's long-term prospects remain strong!

 

[ImamShaheb]

If the ETF is rejected, we might see a temporary dip in Bitcoin's value. But remember, Bitcoin's long-term prospects remain strong!

Whatever... These kinda move's aren't gonna harm traders...

 

[R100K-Martin-Lunger]

A potential SEC denial of the ETF would definitely have a negative impact, but I believe Bitcoin's strength and expanding user base will drive sustained growth in price. Institutional investors can look into alternatives, such as private funds and OTC trading, which will allow it to continue to thrive ensuring Bitcoin's resilience, even without the ETF approval.