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Cryptocurrencies Price Prediction: Bitcoin, US core PCE & DYDX – American Wrap 30 August

Spot Bitcoin ETF has a 75% chance of approval in 2023, analysts say

Spot Bitcoin Exchange Traded Funds (ETFs) have been the focus of the crypto industry for the past couple of weeks. As BlackRock filed its application, many other firms followed, but the Securities and Exchange Commission's (SEC) stand kept the market skeptical of their approval. Regardless, senior ETF analysts have suddenly increased their odds of approval this week.
Bitcoin price rallied to $28,100 on Tuesday, in response to Grayscale’s victory against the Securities and Exchange Commission (SEC) in its spot Bitcoin ETF lawsuit. Since then, BTC price wiped out its gains, declining to $27,300 as traders exercised caution ahead of the August 31 release of US Core PCE Price Index for July.

BTC/USD

Overview
Today last price 27203.15
Today Daily Change -518.29
Today Daily Change % -1.87
Today daily open 27721.44
 
Trends
Daily SMA20 27333.15
Daily SMA50 28764.96
Daily SMA100 28433.99
Daily SMA200 27323.35
 
Levels
Previous Daily High 28164.81
Previous Daily Low 25909.42
Previous Weekly High 26789.15
Previous Weekly Low 25358.25
Previous Monthly High 31848.1
Previous Monthly Low 28855.81
Daily Fibonacci 38.2% 27303.25
Daily Fibonacci 61.8% 26770.98
Daily Pivot Point S1 26365.64
Daily Pivot Point S2 25009.83
Daily Pivot Point S3 24110.25
Daily Pivot Point R1 28621.03
Daily Pivot Point R2 29520.61
Daily Pivot Point R3 30876.42

 

 

DYDX price resisted selling pressure despite Tuesday's token unlock in light of the migration to dYdX chain and the adoption of version 4 of the project. The proposal, shared by crypto market maker Wintermute, is likely to be approved as it has received 100% support from community members on a vote that is still under way.
 

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