Price analysis 11/29: BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON, LINK, AVAX
Bitcoin is struggling to sustain above $38,000, but the bulls have not given up much ground, which some analysts say increases the chance of a rally to $40,000. Bitcoin (BTC) is trying to sustain above the overhead resistance of $38,000 for the second consecutive day and start the next leg of the uptrend. The excitement among market observers may have increased after the United States Securities and Exchange Commission (SEC) delayed its decision on the applications of Franklin Templeton and Hashdex exchange-traded funds. Bloomberg ETF analyst James Seyffart speculated in a X (formerly Twitter) post that the SEC may have taken this step “to line every applicant up for potential approval by the Jan. 10, 2024 deadline.” While many analysts believe that the ETF listing will be a watershed moment for Bitcoin, Genesis Trading head of derivatives Joshua Lim cautioned in a X post that traditional finance investors have already bought the rumor and may exit the trade close to the ETF announcem...