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Grayscale Bitcoin Trust

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 <p>Also Read: <strong>Ripple Files Opposition to SEC’s Interlocutory Appeal Attempt</strong></p>  
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 <h2 id="btc-price-local-support">BTC Price &amp; Local Support</h2> 
 <p>Unlike in the recent times, the top cryptocurrency is showing weak resistance to price drops. According to on-chain data, the BTC price is precariously trading around the danger zone that could lead to a further 10 to 15% drop from the current level, where it lacks strong support. From the current range of $25,800, the cryptocurrency could suffer a price drop to $23,340, according to Ali Charts.</p> 
 <blockquote> 
  <p>“<a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> On-chain data suggests that $BTC lacks strong support below the $25,400 mark. If BTC breaks below this threshold, it could swiftly correct down to $23,340.”</p> 
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 <p>There has been high volatility in the last 7 day range, with the weekly low of $25,680 and the weekly high of $28,130. In the near term, BTC could see another wave of volatility in mid-October 2023 as the U.S. Securities and Exchange Commission (SEC) next deadline for the Blackrock spot <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> ETF filing approaches. On August 31, 2023, the US SEC had delayed decisions on all several spot <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> ETF applications including from BlackRock, Invesco and WisdomTree.</p> 
 <h2 id="grayscale-judgment-what-next">Grayscale Judgment: What Next</h2> 
 <p>On the other side, it remains to be see what kind of a position the federal regulatory agency takes around the Grayscale lawsuit judgment, which granted the company’s motion for approval of the conversion of Grayscale <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> Trust (GBTC) to a spot <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> ETF.</p> 
 <p>Also Read: <strong>Cambridge University Study Reports Surprising Facts On <a rel="noopener noreferrer nofollow" title="Bitcoin" href="https://thebittimes.com/tag/bitcoin.html">Bitcoin</a> Mining</strong></p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/will-bitcoin-stay-strong-above-25-400-mark-tbt61282.html">https://thebittimes.com/will-bitcoin-stay-strong-above-25-400-mark-tbt61282.html</a></p>

Will Bitcoin Stay Strong Above $25,400 Mark?

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