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He drew attention to the bullish (uptrend) outlook of the Fear and Greed index. “Our Fear and Greed index, which has been showing signs of downward pressure on the price for four weeks, has started to show signs of an uptrend,” the report said. Bitcoin has been pegged at $29,000 for three weeks, and Apple is resisting the slide despite a correction in some major tech stocks like Microsoft.” statements were included.
According to Matrixport, there are two key catalysts for Bitcoin and Ether prices that will be supportive through the end of the year. One is the SEC's possible spot Bitcoin ETF approval and the other is the EIP-4844 upgrade on Ethereum expected in the fourth quarter of 2023.
As expected, the SEC decided to delay the Ark 21Shares spot Bitcoin ETF application yesterday. On the other hand, there are seven other applications pending response from the SEC. For some of these, the SEC must respond by September.
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