{"id":549329,"date":"2023-08-29T17:37:09","date_gmt":"2023-08-29T17:37:09","guid":{"rendered":"https:\/\/ktsl888.com\/?p=549329"},"modified":"2024-06-11T08:10:32","modified_gmt":"2024-06-11T08:10:32","slug":"bitcoin-price-taps-28000-grayscale","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-taps-28000-grayscale\/","title":{"rendered":"Bitcoin Price Taps $28,000 On Grayscale Ruling, Soaring Stock Market"},"content":{"rendered":"

Bitcoin price has thus far made a 7% intraday move following news that a US court ruled in favor of Grayscale against the SEC. At the same time, the stock market is surging.<\/p>\n

Could a perfect storm for the top cryptocurrency by market cap be building?<\/p>\n

Back At $28,000: Grayscale Court Ruling Causes BTC To Bounce<\/h2>\n

In an asset class as volatile as crypto, prices \u2014 and moods \u2014 can change in a flash. That\u2019s exactly what we\u2019ve witnessed on a small scale today, moments after news broke that a US court is forcing the SEC to reconsider Grayscale\u2019s Bitcoin ETF.<\/p>\n

Related Reading: BREAKING: Grayscale Triumph: SEC Crushed, GBTC Rockets Towards ETF<\/a><\/div>\n

The news is significant because not only does it increase the chance Grayscale can move ahead with an ETF, but it also improves the likelihood of other ETFs like
\nBlackRock getting the green light.<\/p>\n

Green is definitely the color of the day, with BTCUSD climbing back to $28,000 per coin on the heels of the news.<\/p>\n

\"BTCUSD_2023-08-29_13-20-53\"<\/p>\n

Bitcoin price rockets 7% higher in a day | BTCUSD on TradingView.com<\/a><\/pre>\n
Bitcoin Price Could Benefit From A New Stock Market High<\/h2>\n
It isn\u2019t just crypto getting a major boost today. US stock indexes are also soaring today. The S&P 500 is up over 1.2%, the tech-heavy Nasdaq over 1.88%, and the Dow Jones Industrial Average at 0.63%. The latest bounce in stocks puts traditional markets within striking distance of a new all-time high.<\/p>\n
Related Reading: Bitcoin Bullish Uptrend Remains Unbroken, Here’s Why<\/a><\/div>\n
This is important because if Bitcoin price is already turning bullish in the wake of the Grayscale news, then a simultaneous stock market all-time high could cause crypto to go ballistic.<\/p>\n
\"SPX_2023-08-29_13-29-07\"<\/p>\n
BTC versus the SPX | BTCUSD on TradingView.com<\/a><\/pre>\n
Cryptocurrencies have a ton of catching up to do relative to the stock market. Furthermore, back in 2020, after the S&P 500 made a new all-time high, Bitcoin price followed in the weeks to come and set a record of its own. Is this what we can expect if the stock market sets new record highs, and a slew of ETFs are approved?<\/p>\n
Tony is the author of the CoinChartist (VIP) newsletter<\/a>. Sign up for free<\/a>. Follow @TonyTheBullBTC<\/a> & @coinchartist_io<\/a> on Twitter. Or join\u00a0the TonyTradesBTC Telegram<\/a> for daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price has thus far made a 7% intraday move following news that a US court ruled in favor of Grayscale against the SEC. At the same time, the stock market is surging. Could a perfect storm for the top cryptocurrency by market cap be building? Back At $28,000: Grayscale Court Ruling Causes BTC To Bounce In an asset class as volatile as crypto, prices \u2014 and moods \u2014 can change in a flash. That\u2019s exactly what we\u2019ve witnessed on a small scale today, moments after news broke that a US court is forcing the SEC to reconsider Grayscale\u2019s Bitcoin ETF. Related Reading: BREAKING: Grayscale Triumph: SEC Crushed, GBTC Rockets Towards ETF The news is significant because not only does it increase the chance Grayscale can move ahead with an ETF, but it also improves the likelihood of other ETFs like BlackRock getting the green light. Green is definitely the color of the day, with BTCUSD climbing back to $28,000 per coin on the heels of the news. Bitcoin price rockets 7% higher in a day | BTCUSD on TradingView.com Bitcoin Price Could Benefit From A New Stock Market High It isn\u2019t just crypto getting a major boost today. US stock indexes are also soaring today. The S&P 500 is up over 1.2%, the tech-heavy Nasdaq over 1.88%, and the Dow Jones Industrial Average at 0.63%. The latest bounce in stocks puts traditional markets within striking distance of a new all-time high. Related Reading: Bitcoin Bullish Uptrend Remains Unbroken, Here’s Why This is important because if Bitcoin price is already turning bullish in the wake of the Grayscale news, then a simultaneous stock market all-time high could cause crypto to go ballistic. BTC versus the SPX | BTCUSD on TradingView.com Cryptocurrencies have a ton of catching up to do relative to the stock market. Furthermore, back in 2020, after the S&P 500 made a new all-time high, Bitcoin price followed in the weeks to come and set a record of its own. Is this what we can expect if the stock market sets new record highs, and a slew of ETFs are approved? Tony is the author of the CoinChartist (VIP) newsletter. Sign up for free. Follow @TonyTheBullBTC & @coinchartist_io on Twitter. Or join\u00a0the TonyTradesBTC Telegram for daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":517066,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,78790,6664,56432,3110,76532,3738,56431,4524,76835],"class_list":["post-549329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-dji","tag-nasdaq","tag-ndx","tag-sp-500","tag-spx","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Price Taps $28,000 On Grayscale Ruling, Soaring Stock Market<\/title>\n<meta name=\"description\" content=\"Bitcoin price has thus far made a 7% intraday move following news that a US court ruled in favor of Grayscale against the SEC. 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/ktsl888.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Taps $28,000 On Grayscale Ruling, Soaring Stock Market","url":"http:\/\/ktsl888.com\/news\/bitcoin-price-taps-28000-grayscale\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-price-taps-28000-grayscale\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Bitcoin-price-performance.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Bitcoin-price-performance.jpg?fit=900%2C506"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","btcusdt","crypto","dji","nasdaq","ndx","s&p 500","spx","xbt","xbtusd"],"dateCreated":"2023-08-29T17:37:09Z","datePublished":"2023-08-29T17:37:09Z","dateModified":"2024-06-11T08:10:32Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Taps $28,000 On Grayscale Ruling, Soaring Stock Market\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-price-taps-28000-grayscale\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-price-taps-28000-grayscale\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Bitcoin-price-performance.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Bitcoin-price-performance.jpg?fit=900%2C506\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto\",\"dji\",\"nasdaq\",\"ndx\",\"s&p 500\",\"spx\",\"xbt\",\"xbtusd\"],\"dateCreated\":\"2023-08-29T17:37:09Z\",\"datePublished\":\"2023-08-29T17:37:09Z\",\"dateModified\":\"2024-06-11T08:10:32Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Bitcoin-price-performance.jpg?fit=900%2C506","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/549329"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=549329"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/549329\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/517066"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=549329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=549329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=549329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}