Bitcoin sags as the wait continues for an ETF approval

<p>Earlier today, Eamonn <a href="https://www.forexlive.com/Cryptocurrency/the-grayscale-bitcoin-etf-case-decision-could-come-as-soon-as-tuesday-us-time-20230815/" target="_blank" rel="follow">highlighted </a>how today marked 160 days since the spot bitcoin ETF was filed by Grayscale. That's the usual outside timeline for approval but this is far from a usual case. </p><p>That means the timeline is unclear but the final deadline is October 5, though there may be options to extend it.</p><p>Eric Blachunas from Bloomberg Intelligence notes that the next batch of ETFs will be evaluated in early September while on Friday the court could publish a decision at 11 am ET.</p><p>For now, bitcoin is being dragged around by broader market sentiment. Risk traders are under pressure today with the S&amp;P 500 down 56 points and at the lows of the day. I don't see the $221 decline in bitcoin to $29,135 as all the moves within the recent range are largely noise, though I am slightly concerned at the series of lower lows.</p>

This article was written by Adam Button at www.forexlive.com.