The crypto carnage comments thread

Crypto market musings

Crypto:

• Bitcoin pulling back as the Winklevoss twins had their Bitcoin ETF denied by the SEC.
• This does not mean that all Bitcoin ETFs have been denied by the SEC.
• It was an appeal from a 2 year old application that had already been denied on the grounds of lack of regulation/security.
• The CBOE application is the best chance of being approved as they will be purchasing from only KYC AML compliant institutions and will follow all CBOE market rules. This one is the key as it intends to address the reasons why the Winklevoss application was denied.
• Full SEC decision here.

The bitcoin daily chart:

The BTC/USD market has certainly been shocked intraday, but you can see on the daily that it's still above the breakout level and a retest of any of these zones would certainly not be unhealthy.

Can't wait for the comment carnage!