Bitcoin Price Prediction: BTC Up 1.5% as Market Focus Shifts to June CPI and PPI Readings
Bitcoin price is trading at $30,492 in today's market, marking an over 1% rise on Tuesday.
The cryptocurrency market continues to draw attention as Gary Gensler, the chair of the US Securities and Exchange Commission (SEC), faces criticism from a Ripple attorney, who refers to him as a "bad faith regulator" following the SEC's acceptance of Grayscale's Bitcoin Futures Exchange-Traded Fund (ETF).
Investors are closely watching the June Consumer Price Index (CPI) and Producer Price Index (PPI) readings, which have come into focus.
These economic indicators will provide valuable insights into inflationary pressures and overall economic performance, influencing market sentiment and potentially impacting Bitcoin's price movement.
The SEC has approved Grayscale's Bitcoin Futures ETF, adding it to the list of permitted products alongside the Leveraged ETF and BTC Short ETF.
This decision has sparked a debate regarding the SEC's stance on spot Bitcoin ETFs, which carry fewer risks.
Ripple's lawyer has accused SEC Chair Gary Gensler of being a "bad faith regulator" compared to his predecessor, Jay Clayton, who offered more insightful advice.
The SEC has approved Grayscale's Bitcoin Futures ETF, adding it to the list of permitted products alongside the Leveraged ETF and BTC Short ETF.
This decision has sparked a debate regarding the SEC's stance on spot Bitcoin ETFs, which carry fewer risks.
Ripple's lawyer has accused SEC Chair Gary Gensler of being a "bad faith regulator" compared to his predecessor, Jay Clayton, who offered more insightful advice.
To address concerns of manipulation and fraud, the SEC deemed the proposal for listing and trading the trust's shares as unclear, despite similar vulnerabilities existing in BTC Futures
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