Bitcoin has seen a surge in price following a court ruling that could potentially lead to the US getting its first Bitcoin ETF. The US Securities and Exchange Commission (SEC) was ordered to “vacate” its rejection of Grayscale’s bid to convert its Grayscale Bitcoin Trust into an ETF. This could mean that the US is finally about to get its first Bitcoin ETF, despite the SEC’s disapproval.However, a research analyst at Fineqia International, Matteo Greco, clarified that this does not guarantee that a Bitcoin ETF will be approved. The final decisions on when and if Grayscale will be able to list its product as an ETF are yet to be made.Following the court ruling, Bitcoin’s price jumped by over 6%, taking it to $27.6k. After struggling for a few hours, BTC managed to break the resistance and surge even further up to $28k. Since then, the token has gradually corrected, heading toward $27.5k. Bitcoin’s daily volume also more than tripled following the ruling, currently exceeding $31 billion.Some experts believe the new bull run will not last long, calling it a fake pump and a “bull trap for the year”. They warned buyers not to fall for it, as the chart prints a head and shoulders pattern — a highly bearish signal.Those who believe the pump is a bull trap can still choose to make a different move and turn to one of the cryptocurrencies available in presales. One example is Wall Street Memes (WSM), a meme coin that recently entered its last stage. The project has already raised over $25 million, and it is now inviting buyers to use this last opportunity to purchase the token for $0.0337. The token will finally reach crypto exchanges in 28 days.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | Matteo Greco, Elon Musk |
| Companies | Wall Street Memes (WSM), OpenSea, US Securities and Exchange Commission (SEC), Fineqia International, Grayscale Bitcoin Trust |
| Currencies | Ethereum, Bitcoin, BNB, Tether, wsm |
| Securities | None |
