The U.S regulator, SEC, has returned documents filed by Fidelity and BlackRock, stating that they lack clarity and are insufficient. This news has had a negative impact on the price of Bitcoin, causing it to fall briefly below $30,000. The MFI indicator shows liquidity outflows and sell pressure at a previously tested resistance level. The news about the SEC may erode confidence in Bitcoin and lead to potential downside. However, exchange flow data shows a decrease in inflows and a possibility of an appeal in the future. Bitcoin’s open interest in the derivatives segment has also been declining. Investors are advised to do their own research and consider the high-risk nature of cryptocurrency trading.
AI Sentiment: Negative
