The BTC rate on Wednesday is hovering around 26,240 USD.
When considering both technical signals and fundamental factors, there have been no changes for BTC since Monday. The flagship cryptocurrency appears completely neutral.
Earlier expectations had hinted at a shift in the seasonal cycle around 20 September, which could have boosted buyer confidence. However, so far there has been no change. BTC's performance continues to be volatile, partly due to the ongoing global stock market sell-off. It is worth noting that investors have not yet shifted from traditional fiat assets to digital ones.
An important support level stands at 25,500 USD, with 25,150 USD below it. To establish an uptrend, surpassing the level of 26,500 USD is required.
The total market capitalisation of cryptocurrencies has rebounded to reach 1.05 trillion USD. BTC maintains its dominance at 48.9%, while ETH's market share has expanded to 18.3%.
SEC delays decision on Bitcoin ETF
The US Securities and Exchange Commission (SEC) has postponed its decision on licensing the ARK 21Shares Bitcoin ETF. The new date is set for 10 January. The primary reason cited for this extension is the need for additional time to review the application materials. There is a possibility of similar delays affecting other pending applications.
The US Department of Justice continues the investigation of the Binance case
The US Department of Justice continues its multi-year investigation into the activities of the Binance exchange. Potential multibillion-dollar fines are under consideration. Over the past year, Binance has lost 1,500 employees.