{"id":567998,"date":"2024-01-04T10:00:38","date_gmt":"2024-01-04T10:00:38","guid":{"rendered":"https:\/\/wncen.com\/?p=567998"},"modified":"2024-06-11T07:03:45","modified_gmt":"2024-06-11T07:03:45","slug":"bitcoin-price-43000-rumor-etf-approval-tomorrow","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-43000-rumor-etf-approval-tomorrow\/","title":{"rendered":"Bitcoin Price Reclaims $43,000 On Rumor Of ETF Approval Tomorrow"},"content":{"rendered":"

In a strong turnaround from yesterday’s flash crash, the Bitcoin (BTC) price has staged a recovery, breaching the $43,000 mark. This surge comes after yesterday\u2019s intense volatility, where the cryptocurrency giant witnessed an over 11% flash crash<\/a> following a controversial report<\/a> from Matrixport.<\/p>\n

The report suggested a potential rejection by the US Securities and Exchange Commission (SEC) of the much-anticipated spot Exchange Traded Funds (ETFs), triggering the second-largest liquidation of long positions in the past year. Bitcoin’s price plummeted to as low as $41,500.<\/p>\n

However, Bitcoin is today stabilizing above $43,000, influenced by a combination of factors. Notably, several experts have disputed the Matrixport report’s validity. Adding to the positive sentiment, a significant SEC related update has caught the market’s attention.<\/p>\n

Bitcoin ETF Tomorrow?<\/h2>\n

According to a report<\/a> by Fox Business, SEC staff attorneys from the Division of Trading and Markets were engaging in crucial discussions with representatives from major exchanges such as the New York Stock Exchange, Nasdaq, and the Chicago Board Options Exchange on Wednesday. This engagement is significant as it pertains to the approval of several Bitcoin ETF applications.<\/p>\n

Related Reading: Bitcoin Crashes To $41,500 As ETF Approval Hangs In Balance: Experts<\/a><\/div>\n

The meetings are seen as a positive sign that the SEC is nearing approval of some or all of the dozen applications by major money managers and crypto firms for the product. An anonymous source familiar with these developments stated, \u201cWhile the final decision has not been made, sources close to the proceedings say the SEC could begin notifying issuers of approval on Friday with trading beginning as early as next week.\u201d<\/p>\n

Bloomberg ETF analyst James Seyffart commented<\/a> on Eleanor Terrett’s report from Fox Business via X, stating: \u201cMy view is in line with Eleanor Terrett’s reporting. I think the SEC could begin signaling to issuers to expect approvals tho I’m still expecting official approvals Jan 8 – 10. I also think the gap between approval orders and actual trading will be measured in days — not weeks.\u201d<\/p>\n

Related Reading: Forget The SEC And Bitcoin ETF Approval Drama, Here\u2019s Why Bitcoin Flash Crashed<\/a><\/div>\n

Echoing Seyffart’s views, Eric Balchunas, his colleague at Bloomberg, commented<\/a>, \u201cThings you prob don’t do if you going to deny or delay. Hearing similar btw, and why why when we see updated (final) 19b-4s roll in that is sign approval imminent as SEC has been doing back and forth w issuers offline to perfect their 19b-4s vs doing numerous refilings a la S-1s.\u201d<\/p>\n

Scott Johnsson, a finance lawyer at Davis Polk, weighed in<\/a> on Balchunas’ statement: \u201cIn every past ETF wave, the SEC did not do this. Why? Because (1) this takes up a ton of SEC resources and (2) makes it MUCH harder to successfully survive judicial scrutiny (and after Grayscale, this is like drawing blood from a stone). If you intend to deny, you just deny.\u201d<\/p>\n

BTC Price Remains Ultra Bullish<\/h2>\n

In light of these developments, the cryptocurrency market remains cautiously optimistic, with indicators strongly pointing towards an ETF approval by January 10<\/a>, potentially even as early as January 5. Notably, the Bitcoin price has closed its daily candle within the uptrend channel, established in mid-October. At press time, BTC traded at $43,102.<\/p>\n

\"Bitcoin
BTC price reclaims the uptrend channel, 1-day chart | Source: BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image from Shutterstock chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

In a strong turnaround from yesterday’s flash crash, the Bitcoin (BTC) price has staged a recovery, breaching the $43,000 mark. This surge comes after yesterday\u2019s intense volatility, where the cryptocurrency giant witnessed an over 11% flash crash following a controversial report from Matrixport. The report suggested a potential rejection by the US Securities and Exchange Commission (SEC) of the much-anticipated spot Exchange Traded Funds (ETFs), triggering the second-largest liquidation of long positions in the past year. Bitcoin’s price plummeted to as low as $41,500. However, Bitcoin is today stabilizing above $43,000, influenced by a combination of factors. Notably, several experts have disputed the Matrixport report’s validity. Adding to the positive sentiment, a significant SEC related update has caught the market’s attention. Bitcoin ETF Tomorrow? According to a report by Fox Business, SEC staff attorneys from the Division of Trading and Markets were engaging in crucial discussions with representatives from major exchanges such as the New York Stock Exchange, Nasdaq, and the Chicago Board Options Exchange on Wednesday. This engagement is significant as it pertains to the approval of several Bitcoin ETF applications. Related Reading: Bitcoin Crashes To $41,500 As ETF Approval Hangs In Balance: Experts The meetings are seen as a positive sign that the SEC is nearing approval of some or all of the dozen applications by major money managers and crypto firms for the product. An anonymous source familiar with these developments stated, \u201cWhile the final decision has not been made, sources close to the proceedings say the SEC could begin notifying issuers of approval on Friday with trading beginning as early as next week.\u201d Bloomberg ETF analyst James Seyffart commented on Eleanor Terrett’s report from Fox Business via X, stating: \u201cMy view is in line with Eleanor Terrett’s reporting. I think the SEC could begin signaling to issuers to expect approvals tho I’m still expecting official approvals Jan 8 – 10. I also think the gap between approval orders and actual trading will be measured in days — not weeks.\u201d Related Reading: Forget The SEC And Bitcoin ETF Approval Drama, Here\u2019s Why Bitcoin Flash Crashed Echoing Seyffart’s views, Eric Balchunas, his colleague at Bloomberg, commented, \u201cThings you prob don’t do if you going to deny or delay. Hearing similar btw, and why why when we see updated (final) 19b-4s roll in that is sign approval imminent as SEC has been doing back and forth w issuers offline to perfect their 19b-4s vs doing numerous refilings a la S-1s.\u201d Scott Johnsson, a finance lawyer at Davis Polk, weighed in on Balchunas’ statement: \u201cIn every past ETF wave, the SEC did not do this. Why? Because (1) this takes up a ton of SEC resources and (2) makes it MUCH harder to successfully survive judicial scrutiny (and after Grayscale, this is like drawing blood from a stone). If you intend to deny, you just deny.\u201d BTC Price Remains Ultra Bullish In light of these developments, the cryptocurrency market remains cautiously optimistic, with indicators strongly pointing towards an ETF approval by January 10, potentially even as early as January 5. Notably, the Bitcoin price has closed its daily candle within the uptrend channel, established in mid-October. At press time, BTC traded at $43,102. Featured image from Shutterstock chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":567999,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,532,679,1119,3799,84647],"class_list":["post-567998","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-etf","tag-bitcoin-price","tag-btc","tag-sec","tag-spot-bitcoin-etf"],"acf":[],"yoast_head":"\nBitcoin Reclaims $43,000 On Rumor Of ETF Approval Tomorrow<\/title>\n<meta name=\"description\" content=\"In a strong turnaround from yesterday's flash crash, the Bitcoin (BTC) price has staged a recovery, breaching the $43,000 mark.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/wncen.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Reclaims $43,000 On Rumor Of ETF Approval Tomorrow","url":"http:\/\/wncen.com\/news\/bitcoin-price-43000-rumor-etf-approval-tomorrow\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-43000-rumor-etf-approval-tomorrow\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/shutterstock_2222075343.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/shutterstock_2222075343.jpg?fit=7680%2C4320"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin etf","bitcoin price","btc","sec","spot bitcoin etf"],"dateCreated":"2024-01-04T10:00:38Z","datePublished":"2024-01-04T10:00:38Z","dateModified":"2024-06-11T07:03:45Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Reclaims $43,000 On Rumor Of ETF Approval Tomorrow\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-43000-rumor-etf-approval-tomorrow\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-43000-rumor-etf-approval-tomorrow\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/shutterstock_2222075343.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/shutterstock_2222075343.jpg?fit=7680%2C4320\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin etf\",\"bitcoin price\",\"btc\",\"sec\",\"spot bitcoin etf\"],\"dateCreated\":\"2024-01-04T10:00:38Z\",\"datePublished\":\"2024-01-04T10:00:38Z\",\"dateModified\":\"2024-06-11T07:03:45Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/shutterstock_2222075343.jpg?fit=7680%2C4320","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/567998"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=567998"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/567998\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/567999"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=567998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=567998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=567998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}