The SEC's recent approval of options for a Bitcoin exchange-traded fund (ETF) is anticipated to significantly increase market liquidity, according to insights from QCP, a leading market analyst firm. This development is seen as a positive move for Bitcoin, which currently exhibits a sideways or crab walking trading pattern.
To indicate a confirmed breakout from this pattern, analysts suggest that Bitcoin would need to close the week with a price surpassing $68,700. Such a price movement would mark a clear upward trajectory, highlighting increased investor confidence and interest.
