The scenario that marked the Bitcoin price action in the last 24 hours is very positive, this if we consider that after flirting with losing the $26,000 area, the price rose at the time of writing to $27,733, which in my view injects oxygen and tranquility to bullish traders.
However, from a fundamental analysis perspective and a little relating to what could have caused a positive scenario for the price to bounce attractively above 6.2% generates objective and much needed research in the quest to trade in an educated manner.
In this sense, and based on information socialised by Derek Andersen, the cryptocurrency market community welcomes the Grayscale v SEC decision, and even though uncertainty remains, the announcement is somehow related to the price rebound the market has experienced.
As mentioned by Andersen in his article The decision was "a slaughter of the SEC's arguments," Adam Cochran, founder of Cinneamhain Ventures, called it on X (formerly Twitter). "This changes everything. It's time to pay attention again," commented influencer Miles Deutscher".
However, there is another approach where it is argued that "Some were less optimistic. "So far, every time they lose in court, they just shamelessly say the judge was wrong and keep pursuing more shenanigans," said Delphi Labs legal director Gabriel Shapiro".
SOURCES CONSULTED
Cointelegraph. Crypto community jubilant over Grayscale decision, but uncertainty remains. Link
OBSERVATION:
The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Tokenist
