Bitcoin price dropped on August 7, which led it to $28.74k, repeating the scenario from August 1. However, just like then, the price quickly recovered, climbing slightly higher than where it was before the brief drop.<\/p>\n
After breaking the support at $29k, Bitcoin surged back to $29,250, which proved to be strong resistance. In fact, this resistance has held the coin’s price from going further up for the last 12 hours, rejecting its price three times during that time.<\/p>\n
However, it also seems that Bitcoin found a minor support at $29.10k, so its price fluctuated between these two levels for the last 12 hours, continuing to push the coin deeper into trading sideways, as it uncharacteristically did for the previous month.<\/p>\n
It has been around two months since leading US asset managers started filing for Bitcoin spot ETFs, and while the SEC rejected them all in the first wave, the refilings are expected to bring better results. Specifically, the SEC will likely finally approve a Bitcoin ETF in the country after a decade of various companies trying to get it to do so.<\/p>\n