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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.
Upcoming spot Bitcoin ETF application deadline
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 price27203.15
Today Daily Change-518.29
Today Daily Change %-1.87
Today daily open27721.44
 
Trends
Daily SMA2027333.15
Daily SMA5028764.96
Daily SMA10028433.99
Daily SMA20027323.35
 
Levels
Previous Daily High28164.81
Previous Daily Low25909.42
Previous Weekly High26789.15
Previous Weekly Low25358.25
Previous Monthly High31848.1
Previous Monthly Low28855.81
Daily Fibonacci 38.2%27303.25
Daily Fibonacci 61.8%26770.98
Daily Pivot Point S126365.64
Daily Pivot Point S225009.83
Daily Pivot Point S324110.25
Daily Pivot Point R128621.03
Daily Pivot Point R229520.61
Daily Pivot Point R330876.42
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.
DYDX supply on exchanges vs price
 

Author

FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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