Bitcoin Gains 1% as SEC Approval Boosts Leveraged ETF Access

Bitcoin (BTC) is currently trading at $85,767, up 1% for the day. The price remains above key moving averages, indicating sustained upward momentum. The SEC's approval of a Cboe BZX rule change has opened the door for six triple-leveraged Bitcoin and Ether futures ETFs from Volatility Shares. This regulatory green light is expected to boost U.S. investor access to leveraged crypto products, potentially increasing both retail and institutional demand.

Technically, BTC is trading above its MA-20 at $85,732 and MA-50 at $85,171 on the hourly chart, with the MA-200 standing at $71,533. The Ichimoku Kijun highlights immediate resistance at $85,897. While the MACD and ADX suggest buy conditions, the RSI reads 57.43, indicating a mild buy stance. The Stoch RSI is oversold, and the CCI is neutral, with the Bull/Bear Power overbought, underscoring intraday buyer dominance.

Over the next 2-3 trading days, BTC is projected to trade within a volatility band of $84,773 to $86,761. The baseline scenario favors an upward move with a 55% probability, while the chance of a downside break is 45%. A decisive bullish move would require a breakout above the resistance at $85,897, whereas a close below the projected range lows could trigger renewed selling.

The analysis is based on a proprietary model combining technical, on-chain, and expert data. The information provided does not constitute investment advice or a guarantee of future results.