Bitcoin futures data hints at $22K as next logical step

05 Sep 2023

A Bitcoin price correction down to $22,000 is becoming increasingly likely, as BTC derivatives have begun to exhibit bearish tendencie, Cointelegraph reports. 

The price chart of Bitcoin leaves little doubt that investor sentiment has worsened since Grayscale’s much-hyped legal victory against the United States Securities and Exchange Commission on Aug. 29 and the SEC’s subsequent postponement of multiple spot BTC exchange-traded fund (ETF) requests.

The central question remains whether the prospects of an ETF can outweigh the growing risks.