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The SEC's time is up. This body, which is the regulator of the stock market in the United States, has until Jan. 10 to announce whether or not it approves spot bitcoin ETFs (BTC). This means that between Monday and Wednesday of the current week the long-awaited news will be given.
Both the SEC and the companies seeking approval to launch bitcoin ETFs (there are more than a dozen applications) have given signals that the decision would be positive, and therefore the ETFs would be approved.
In this context, the price of bitcoin has been reacting upwards. And for the first time — at least since BTC has been listed on major exchanges — it formed a golden cross (or golden cross) on a weekly basis. This technical analysis pattern occurs when the 50-period moving average crosses above the 200-period moving average.