The recent delay in the SEC’s decision on Bitcoin ETF applications caused Bitcoin and altcoins to give back their gains. Bloomberg analysts remain optimistic about the possibility of ETF approval in 2023. September historically favors bears, so the near-term outlook for Bitcoin is uncertain. Major altcoins like Ether, BNB, XRP, Cardano, Dogecoin, Solana, Toncoin, Polkadot, and Polygon are all facing downward pressure. Bulls will need to defend key support levels to prevent further declines. Here are the key points:
– Bitcoin and altcoins lost their recent gains after the SEC delayed its decision on Bitcoin ETF applications.
– Bloomberg analysts believe there is a 75% chance of a spot Bitcoin ETF being approved in 2023.
– September has historically been a bearish month for Bitcoin.
– Major altcoins like Ether, BNB, XRP, Cardano, Dogecoin, Solana, Toncoin, Polkadot, and Polygon are all facing downward pressure.
– Bulls will need to defend key support levels to prevent further declines.
