Bitcoin (BTC) might be on cusp of big price move, here are three reasons BTC $BTC
and history are any indication, Bitcoin may be on the verge of breaking out of an abnormally low volatility period.drivers for a breakout include, first, a potential spot Bitcoin exchange-traded fund in the United States, which might increase demand., the Securities and Exchange Commission must approve or deny ARK's registration for a Bitcoin ETF by Aug. 13. Other firms, including BlackRock, Bitwise, VanEck and WisdomTree, have also applied for a spot Bitcoin ETF.
Cathie Wood, CEO of Ark Invest, and Mike Novogratz, CEO of Galaxy Digital, are both optimistic that a spot Bitcoin exchange-traded fund might be approved soon.Bitcoin has formed a falling wedge, or a narrower price range, similar to a pattern that predicted a June rise. A falling wedge is frequently regarded as bullish by chart analysts. A break of the upper line of the pattern might serve as a trigger for a breakout.
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