The post SEC may approve Bitcoin ETF for imminent launch: here’s when appeared on BitcoinEthereumNews.com.

Speculations about the ETF approval’s potential effects on Bitcoin (BTC) have been widespread. Greeks.live, an options platform, provides insights into how the exchange-traded fund could influence the value of the leading cryptocurrency. Potential Bitcoin ETF approval imminent The U.S. Securities and Exchange Commission (SEC) is reportedly set to inform asset managers seeking to launch a spot Bitcoin (BTC) ETF about the approval status of their applications as early as next week. A seasoned trader, renowned for accurately predicting the year’s crypto breakout, now provides insights on Bitcoin’s optimal trajectory post potential approval of spot market BTC exchange-traded fund applications (ETF). DonAlt, the pseudonymous analyst, says a prolonged consolidation period would be the most favorable scenario for Bitcoin after potential ETF approval. According to The Daily Hodl, he anticipates a “sell-the-news” reaction to the upcoming ETF announcement on Jan. 10. Afterward, the price of BTC is unlikely to drop significantly below $20,000. However, Greeks.live suggests that the market has already factored in the potential approval of the Bitcoin ETF. As a result, it anticipates that the approval may not bring substantial returns for the asset or cause significant price movement. There is news in the market that the SEC will pass the Bitcoin Spot ETF application as early as next Tuesday, but there was little volatility across the major term IVs and the price.Looking at the options data, Jan12 options IV, which is strongly correlated to the ETF, fell… pic.twitter.com/f1B4ZPC05d — Greeks.live (@GreeksLive) December 31, 2023 The platform bases its assessment on the minimal volatility observed in major-term implied volatilities (IVs) and the current Bitcoin price. Implied volatility, indicating the market’s expectation of an asset’s future movement, plays a crucial role in this analysis. On Jan. 12, despite the belief in a strong correlation between options IV and the Bitcoin ETF, there…

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Filed under: News - @ December 31, 2023 5:16 pm