Bitcoin Breaks $47,000 This Morning! SEC Adds Supplemental Remarks at Critical Moment, Any Variables for ETF Approval?

Bitcoin Breaks $47,000 This Morning! SEC Adds Supplemental Remarks at Critical Moment, Any Variables for ETF Approval?

Bitcoin Breaks $47,000 This Morning! SEC Adds Supplemental Remarks at Critical Moment, Any Variables for ETF Approval?

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Bitcoin Breaks $47,000
Bull and Bear Market Volatility
SEC Issues Supplementary Comments on S-1 Filings
About GT Radar
The recent quietness of Bitcoin has influenced the surge of most altcoins, and yesterday the overall market experienced a widespread pullback, causing some to doubt the confidence in Bitcoin ETF clearance. However, in the early morning hours today, Bitcoin once again broke through $47,000, restoring investor confidence.

However, the trend of falling and then rising within 24 hours has led to a phenomenon of both bull and bear market explosions among market investors. According to Coinglass data, liquidation of approximately $283 million occurred in the past 24 hours, with the ratio of long and short liquidations being close to 1:1. Among them, the majority of liquidations in mainstream coins were short positions, while the majority of liquidations in altcoins were long positions.

With the approval of Bitcoin spot ETF entering a feverish stage, the price fluctuations of Bitcoin will become more and more intense, and any related news may trigger sensitive nerves among investors. Less than an hour ago, Digital Chamber CEO Perianne wrote a post stating that the SEC had just issued supplementary comments on the S-1 filings submitted by Bitcoin spot ETF issuers, which may indicate that the issuers and the SEC have not reached a consensus, and it is a potential “delay signal.” This news also caused the price of Bitcoin to drop nearly $1,000 from its high of $47,000.
However, Bloomberg analyst James Seyffart believes that this may not be a “delay signal” because the SEC issued supplementary comments within 24 hours of receiving the updated filings, which means that the SEC hopes to resolve the issue as quickly as possible. If the SEC really intended to delay, the issuers would not have received the comments on the same evening.
Regardless, January 10th will be a crucial moment for Bitcoin spot ETF’s decision. Regardless of the outcome, investors must be prepared for potential price volatility and keep an eye on important news.
(This article is authorized for reprint by GT Radar.)

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