The delay in the SEC’s decision on Bitcoin ETFs has caused a drop in BTC’s sentiment and raised the possibility of a price correction. The SEC’s decision to postpone came after Chairman Gary Gensler faced questioning at a congressional hearing. This move is seen by some as an attempt by the SEC to push the dates until the final deadline, despite knowing the outcome. This news had a negative impact on BTC’s performance, as its weighted sentiment dropped and more investors were selling their holdings.
The delay in the SEC’s decision on Bitcoin ETFs has caused uncertainty in the market and affected BTC’s performance. This has been reflected in a drop in its weighted sentiment and an increase in selling sentiment. The delay is seen by some as a strategic move by the SEC to buy more time and avoid making a decision. However, BTC’s social volume remains high, indicating its popularity in the crypto market. It is important to note that BTC’s price has been struggling to breach the $27,000 mark, and indicators like MACD, RSI, and MFI suggest that investors may experience slow-moving days in the coming weeks.
The delay in the SEC’s decision on Bitcoin ETFs has raised concerns about BTC’s price movement. While BTC has been trading slightly up in the last seven days, it has failed to cross the $27,000 mark. The delay has affected buying sentiment, as more investors are selling their holdings, indicating a market top. However, the exchange reserve metric shows optimism as it registered a drop. Moving forward, investors can expect some slow-moving days in the market, as indicated by the MACD, RSI, and MFI. As BTC continues to face resistance at the $27,000 level, traders and investors will closely monitor the SEC’s decision-making process and its impact on the crypto market.
