News Summary

• The Bullish divergence formed when the price formed higher highs and higher lows, while the Relative Strength Index (RSI) formed lower lows and lower highs,One good development is that despite the decline on Wednesday, the altcoin is still keeping above the uptrend line, treating it as support..
• The publication took a negative stance about Bitcoin and price and ETF approval at first, which was soon countered by themselves, claiming BTC was headed to $50,000.The report, which was also the reason for the crash, was titled "Why the SEC Will Reject the Upcoming Spot BTC ETF Applications.".
• Now, the upside potential may come to fruition.dYdX (DYDX) price suffered a double hit on Wednesday when the market crashed over the Matrixport report suggesting the denial of the spot Bitcoin exchange-traded funds (ETFs) by the US Securities and Exchange Commission..
• By and large, there is still no directional bias as the market exercises caution.Litecoin price crashed by a little over 10% on Wednesday following the Matrixport FUD but that did nothing to the bearishness witnessed by the asset in 2023..
• If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned..
• Aaryamann Shrivastava FXStreet Bitcoin price took a hit on Thursday, resulting in the entire crypto market noting a dip..