Why is Bitcoin flat today? SEC ETF decisions and resistance levels in focus

Bitcoin (BTC) is trading at $84,912 after a marginal session gain, holding above its shorter-term average but still encountering medium-term resistance, while maintaining a firm position above longer-term support averages.

Highlights

• The SEC approved a Cboe BZX rule change to permit listing six new 3x leveraged ETFs, including a 3x Bitcoin ETF, paving the way for greater institutional and retail involvement in high-leverage bitcoin products.
• Supplementary approvals for 3x leveraged Bitcoin and Ether futures ETFs and new SEC proposals for direct digital asset custody signal a shifting regulatory stance toward crypto instruments.
• BTC/USD trades near its daily high at $84,912 with mixed momentum signals and an expected short-term range from $83,292 to $85,953, favoring consolidation but with a 60% probability of an upward move.

Leveraged ETF approvals boost speculative interest amid regulatory shift

The U.S. Securities and Exchange Commission's approval of a Cboe BZX rule change enabling the listing of six new 3x leveraged exchange-traded products, including a 3x Bitcoin ETF, lays regulatory groundwork for expanded institutional and retail access to high-leverage bitcoin instruments, according to Coinpedia. Although actual trading cannot begin until the S-1 registration is effective, this development primes the market for potential surges in both liquidity and speculative interest. Supplementary approvals for additional 3x Bitcoin and Ether futures ETFs, as highlighted by Coinedition and Thecoinrepublic, further illustrate the SEC's evolving stance on leveraged crypto products. In parallel, new SEC proposals to allow direct custody of digital assets may reshape compliance pathways for investment advisers and funds, as reported by Finance Yahoo.