Odaily Planet Daily News Although Grayscale won the lawsuit against the SEC, the monthly return rate of Bitcoin may still be negative at the end of August. Bitcoin prices are hovering above $27,000 after trading above $29,000 in early August.
Bitcoin's performance in August has brought uncertainty to September's trend. August experienced Bitcoin's record low volatility, declining trading volume and price flash crash to the $25,000 area.
James Butterfill, director of research at CoinShares, predicts that early September will show indecision in the market. He expects traders to vacillate between two sentiments: excitement that a bitcoin spot ETF application may be approved, or doubts about whether the U.S. SEC will approve a spot ETF. While Wednesday's court ruling favored Grayscale, Butterfill said it was unlikely to speed up the timeline for SEC approval, as an appeal is still possible. (The Block)
According to previous news, according to court documents, Grayscale won the lawsuit against the SEC. Grayscale CEO Sonnenshein expressed his gratitude to the Washington, D.C. Circuit Court for making a judgment in favor of Grayscale, and thanked investors for their support and encouragement. In addition, Grayscale's legal team is actively reviewing the court's opinion.
Miyuki
