Bitcoin rebounded Thursday above $44,000, as enduring optimism regarding the prospect of an imminent spot Bitcoin ETF approval from the Securities and Exchange Commission offset fears stirred yesterday by an ominous report published on the subject.
At writing, BTC sits at $44,032, up 4.2% from yesterday’s lows.
Digital asset manager Matrixport yesterday predicted that the SEC would likely reject all Bitcoin ETF proposals this month, and instead begin approving such applications in the spring. Off the news, BTC immediately nosedived a sharp 7%.
But analysts who have closely tracked the SEC’s dealings with Bitcoin ETF applicants including BlackRock, Fidelity, and Grayscale denounced the report as lacking substance, and doubled down on their assessment that the first Bitcoin ETF is most likely to be approved in the next week.