Bitcoin Reverses Slump, Surges Past $47,000! SEC Releases Supplemental Remarks at Crucial Moment, Approval Remains Uncertain?

Bitcoin Reverses Slump, Surges Past $47,000! SEC Releases Supplemental Remarks at Crucial Moment, Approval Remains Uncertain?

Bitcoin Reverses Slump, Surges Past $47,000! SEC Releases Supplemental Remarks at Crucial Moment, Approval Remains Uncertain?

Table of Contents
Toggle
Bitcoin Breaks $47,000
Ups and Downs, Bulls and Bears
SEC Issues Supplementary Comments on S-1 Filing
The recent quietness of Bitcoin has also affected the rise of most altcoins, and yesterday the overall market experienced a widespread pullback, causing some people to start doubting the confidence in Bitcoin ETF approval. However, in the early hours of today, Bitcoin broke through $47,000, restoring the confidence of investors.

However, the trend of falling and then rising within 24 hours has also led to a phenomenon of bulls and bears in the market. According to data from Coinglass, there was a total liquidation of approximately $283 million in the past 24 hours, with the ratio of bulls to bears being close to 1:1. Among them, most of the liquidations in mainstream coins were short positions, while most of the liquidations in altcoins were long positions.

With the approval of Bitcoin spot ETF entering a heated phase, the price fluctuations of Bitcoin will become more and more intense, and any related news can potentially trigger sensitive nerves among investors. Less than an hour ago, Perianne, CEO of Digital Chamber, pointed out in a post that the SEC has just issued supplementary comments on the S-1 filing submitted by the Bitcoin spot ETF issuer, which may indicate that the issuer and the SEC have not yet reached a consensus, and it is a potential “delay signal”. This news also caused the price of Bitcoin to drop nearly $1,000 from the high point of $47,000.
But Bloomberg analyst James Seyffart believes that this may not necessarily be a “delay signal” because the SEC issued supplementary comments within 24 hours of receiving the updated filing, which means that the SEC wants to resolve the issue as quickly as possible. If the SEC really intends to delay, the issuer would not have received the comments that same evening.
In any case, January 10th will be a crucial moment for Bitcoin spot ETF’s decision. Regardless of the outcome, investors must be prepared for potential price fluctuations and keep an eye on important news.