It has been just revealed the fact that the US Court of Appeals has issued a mandate, saying that the SEC has to reconsider the application of Grayscale’s sport BTC ETF. Check out the latest reports below.
Here is the relevant tweet that has been shared by Bitcoin Magazine.
JUST IN: 🇺🇸 US Court of Appeals issues mandate that the SEC must re-review Grayscale's spot #Bitcoin ETF application. pic.twitter.com/fN1zIKtxVk
— Bitcoin Magazine (@BitcoinMagazine) October 23, 2023
People are cheering on the social media platform X, saying that we are definitely going to see BTC ETFs approved this year.
It takes a legal mandate to make #Gensler do his job 👀 pic.twitter.com/IQmcVXWMBL
— cryptoverse420💎 (@cryptoverse420) October 23, 2023
The latest on Bitcoin dominance
Bitcoin’s dominance in the cryptocurrency market has surged to over 49%, the highest it has been in more than two years, according to data from The Block.
The same publication reveals that the increase in dominance has been steady, rising from around 38% at the start of the year to 48.85% on October 21. This is an important milestone as it marks the highest level since April 2021.
The Block Research’s Rebecca Stevens has stated that the increase in dominance demonstrates that the crypto is performing well in the current market conditions and has been doing so for most of the week.
“Inflation woes, geopolitical risk, and an increasingly partisan U.S. government have been weighing on investors who are looking to minimize risk,” Stevens added.
“Meanwhile, bitcoin seems closer than ever to getting a spot ETF approval and in a certain sense serves as an ideological hedge to the uncertainty on the world stage, helping it reclaim more dominance in the crypto space.”
The crypto space is filled with all kinds of predicitons about the price of Bitcoin these days. Most of them are really optimistic and judging by the text above, you can understand why.
