The expectations for a pro-crypto SEC Chair have led to ETF issuers filing for crypto basket ETFs, widening investor access to BTC and the broader market.
On Friday, Bloomberg Intelligence Senior ETF Analyst Eric Balchunas commented on crypto basket ETF filings, saying,
“Bitwise following Grayscale looking to list a crypto basket ETF. This one has 10 cryptos. Makes sense to try IMO bc with The Genzinator gone and a Trump SEC Chair in anything’s poss now altho far from a slam dunk. Need more intel bf giving odds.”
Technical Analysis
Bitcoin Analysis
Despite Saturday’s pullback, BTC remains well above the 50-day and 200-day EMAs, affirming bullish price signals.
Breaking above November 13’s high of $93,163 could enable the bulls to target $95,000. Furthermore, a breakout from $95,000 would bring $100,000 into play.
Investors should monitor trends in US BTC-spot ETF market flows alongside updates on SEC leadership changes and regulatory policies.
Conversely, a BTC drop below $90,000 could signal a fall through $87,500. A break below $87,500 may bring $85,000 into play.
With a 76.10 14-day RSI reading, BTC sits in overbought territory. Selling pressure could intensify at $93,163.
