The U.S. Securities and Exchange Commission (SEC) has approved options trading for Bitcoin Exchange-Traded Funds (ETFs), which could result in a significant surge in Bitcoin's liquidity. This decision is anticipated to impact the cryptocurrency market positively.
Market analysts suggest that for Bitcoin to confirm a breakout from its current sideways trading pattern, historically referred to as a "crab walk," it needs to close the week above the $68,700 mark.
The approval is seen as a pivotal moment for Bitcoin ETFs, offering potentially greater market participation and stability, according to cryptocurrency investment firm QCP.
