US SEC Delays Approval on BlackRock Bitcoin ETF Options and FLEX Trading Limits
- Approval Delay: The US SEC has postponed its decision on extending limits for BlackRock Bitcoin ETF (IBIT) options and FLEX trading until February 24, extending the standard review period, which may impact market liquidity and investor confidence.
- Inflows Performance: Despite a total net outflow of $243 million from spot Bitcoin ETFs, BlackRock's IBIT ETF recorded a notable inflow of $229 million, indicating its strong market appeal amidst broader bearish trends.
- Bitcoin Price Fluctuations: Bitcoin's price has dropped nearly 3% in the past 24 hours, currently trading at $91,413, primarily influenced by miner sell-offs and geopolitical factors, which could further dampen investor sentiment.
- Market Dynamics: Nasdaq ISE proposed increasing IBIT options' position and exercise limits from 250,000 to 1,000,000 contracts to enhance market makers' hedging capabilities, but the SEC's delay may hinder the implementation of this plan.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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