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 <h2 id="bitcoin-and-crypto-market-recovery-likely-this-week">Bitcoin and Crypto Market Recovery Likely This Week</h2> 
 <p>Experts point to a much-awaited decision in the Grayscale vs US <a rel="dofollow" title="Securities and Exchange Commission" href="https://thebittimes.com/tag/securities-and-exchange-commission.html">Securities and Exchange Commission</a> lawsuit this week. The Grayscale ruling is likely to happen on Tuesday or Friday. Moreover, the SEC to decide on six <a rel="dofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> applications by leading asset management firms. The ETF applications submitted by Bitwise, BlackRock, VanEck, WisdomTree, and Invesco are expected to receive responses before the end of the week.</p>  
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 <p>Bloomberg Intelligence ETF analysts earlier said Grayscale has a 70% chance of winning the SEC lawsuit. However, the court continued to postpone the ruling amid SEC Chair Gary Gensler’s reluctance to approve a spot <a rel="dofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>. Moreover, Grayscale’s victory in the lawsuit means the SEC will approve a spot <a rel="dofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> this year.</p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">*Potential* ruling in Grayscale case tomorrow or Friday…</p> 
  <p>Plus, SEC decision likely forthcoming before the long weekend on numerous spot bitcoin ETF filings.</p>  
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  <p>Chart courtesy of @JSeyff, who I’m assuming is tailgating all week. https://t.co/PPaJO46at2 pic.twitter.com/XZtDcWNbaP</p> 
  <p>— Nate Geraci (@NateGeraci) August 29, 2023</p>
 </blockquote> 
 <p></p> 
 <p>The decision on the Bitwise, BlackRock, VanEck, WisdomTree, and Invesco are due on Friday. A spot <a rel="dofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> approval or consideration by the US SEC will back positive sentiment in the crypto market. Bitcoin price will recover above the 200-WMA price of $27,580. MicroStrategy’s executive chairman Michael Saylor shared that BTC price rarely trades below 200-WMA, indicating that it’s time to buy the dip.</p> 
 <p><strong>Also Read: Will Bitcoin Flip Below $25k Before Next Move Above $30k?</strong></p> 
 <h2 id="btc-price-to-rebound">BTC Price To Rebound?</h2>  
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 <p>Bitcoin price action has mostly been sideways after the price fell below $25,800 in mid-August. Analysts believe Bitcoin will see an upside momentum if it closes the month above $26k.</p> 
 <p>In the 4-hour timeframe, Bollinger Bands are the narrowest and hint at a sudden massive move in BTC price. Traders must keep an eye on trading volume and macros factors such as DXY to confirm a recovery.</p> 
 <p>BTC price currently trades around $26950, moving toward another support level. The trading volume has increased by 35% in the past 24 hours.</p> 
 <p><strong>Also Read: US SEC Filing Confidential Docs In Lawsuit Against Binance And CEO “CZ”</strong></p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/potential-grayscale-decision-and-bitcoin-etf-approval-by-us-sec-tbt60759.html">https://thebittimes.com/potential-grayscale-decision-and-bitcoin-etf-approval-by-us-sec-tbt60759.html</a></p>

Potential Grayscale Decision And Bitcoin ETF Approval By US SEC

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