Upcoming SEC Verdict On Bitcoin ETF Expected Next Week, Reveals Issuer
Summary
The SEC is expected to provide guidance on Bitcoin ETF applications next week, possibly coinciding with the January 10 deadline. The anticipation of a positive outcome has driven a surge in Bitcoin's price. QCP Capital notes elevated Bitcoin and Ethereum futures and funding, with a recent deleveraging event causing a drop in BTC's price. Despite this, BTC has shown resilience and climbed back to $44,000. The market remains cautious of a potential "sell the news" reaction. QCP Capital also identifies ETH as an interesting laggard play and suggests selling the spot-futures basis spread as a trading opportunity.
