Bitcoin Trading Volume dips below 55% in the past 24H.
Bloomberg analysts see a 75% chance of Bitcoin ETF approval this year.
After celebrating a significant victory against the United States Securities and Exchange Commission (SEC), which aimed to transform the Grayscale Bitcoin Trust (GBTC) into a publicly listed Bitcoin exchange-traded fund (ETF), the charts of the major crypto Currencies turned green. However, in a surprising turn of events, the coins quickly reverted to their previous red chart days. This was especially noticeable in the case of Bitcoin, the leading coin by market capitalization , which surged by over 5.67% yesterday, only to decline by 0.82% in the past 24 hours.
Despite this decline, the bullish momentum gained on August 29 from the victory which let itsurge from $25,912 to $28,089 ,helped Bitcoin maintain its overall positive trajectory. It’s important to note that Bitcoin had been under the influence of strong bearish dominance for over two months.
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