Bitcoin experienced a strong rebound early this week, with prices rebounding from the $27000 range and reaching a local peak near the $27500 level.However, this recovery momentum cannot be sustained for too long
Bitcoin experienced a strong rebound early this week, with prices rebounding from the $27000 range and reaching a local peak near the $27500 level.
However, this recovery momentum cannot be sustained for too long. After the Federal Reserve decided to maintain interest rate stability at its September meeting but announced another rate hike this year, Bitcoin prices fell below $26500.
October is expected to set off a storm in the field of encryption. Fans are turning their attention to the SEC as it is preparing for major decisions. The focus is that the institution may appeal against grayscale.
By October 13th, the appeal may delay hopes for spot Bitcoin ETFs, causing unease in the crypto community. If the appeal is withdrawn, it will set a groundbreaking precedent, making the argument that the spot market is vulnerable to fraud invalid.
However, October brings more than just a crossroads. The SEC holds the fate of multiple spot Bitcoin ETF applications. Although the possibility of postponement seems high and the final decision may be extended until 2024, people still feel a glimmer of optimism.
The committee seems to be preparing to approve the Ethereum Futures ETF application. It is worth noting that VolatilityShares will be launched on October 12th.
Finally, as we enter October, the prospects for the encryption field seem to be filled with uncertainty and opportunities. Although it may be delayed, this month heralds the launch of the Ethereum Futures ETF, which has sparked positive emotions among people.
In terms of counterfeit currency
The counterfeit currency market is booming, and Bitcoin is attempting to maintain its price at around $26500 after a significant decline on September 21st.
The leading player is PEPE, and the rebound of memecoin is 17% stronger than the previous 24 hours. According to Coinglas' data, PEPE's open positions increased by 110% from $12.57 million to $26.49 million between September 22nd and 23rd.
THETA and CRV are also projects with outstanding daytime activity, with growth rates approaching 10%.
Other counterfeit currencies in the top 100 include ALGO, LINK, KLAY, SNX, ZIL, NEO, GALA, CFX, COMP, SAND, FXS, and ZEC, with a slight increase of 2-5%.
(Personal opinions do not constitute suggestions)
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