The SEC has approved T. Rowe Price’s Bitcoin & Multi-Crypto ETF.
With $1.83 trillion in assets under management, another major Wall Street giant is officially entering the crypto ETF space.
Institutional adoption continues to accelerate. 🚀
Is this the beginning of the next wave of capital flowing into Bitcoin and crypto? 👀
After hitting the upper boundary of the ascending channel which overlapped with the major $82,000 resistance zone
Bitcoin failed to break through and faced a sharp rejection.
Following the rejection, Bitcoin gained downward momentum and successfully broke below its short-term ascending trendline, signaling a shift in market structure.
The price has now paused at a minor horizontal support zone, which is temporarily slowing down the bearish momentum.
From the current support level, we expect a minor bullish relief rally. This upward move will likely act as a pullback (retest) to the broken trendline and the newly formed resistance zone overhead.
Once the pullback is completed and if sellers re-enter the market, the main downward wave should trigger.