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U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler reiterated his support for Bitcoin futures ETF over Bitcoin spot ETF, according to CoinDesk. In August, SEC Chairman Gary Gensler said the agency was more likely to approve Bitcoin futures ETF than spot ETF because they would invest in Bitcoin futures products regulated by the Chicago Mercantile Exchange. Bitcoin spot is not regulated.
Today is the last day of September and the closing day of the month. Whether Bitcoin price stays above $43,000 is uncertain. With the U.S. and other countries limiting Bitcoin’s gains in the short term, investors are starting to worry that more countries will impose restrictions on cryptocurrencies. BTC’s price has rebounded today, but the strength is still not strong enough. Bitcoin needs to get back to support at $43,600 to resume its bullish trend. There is still no clear answer as to where the cryptocurrency market will go.