Key Takeaways
- Truth Social has filed for the registration statement for its Bitcoin ETF, providing more exposure to U.S. investors.
- James Wynn laments on market manipulations against him as he escapes another liquidation.
- Bitcoin continues to gain institutional interest and adoption, but struggles to show real bullish strength.
Donald Trump’s Truth Social is making the headlines following a recent application filing an S-1 form with the U.S. Securities and Exchange Commission to allow its platform to offer Bitcoin ETF (Exchange-traded Funds). This follows the NYSE’s Rule 19b-4 guidelines for filing on behalf of the company to list and trade shares related to Bitcoin ETFs.
TruthSocial File S-1 Bitcoin ETF
The application by Truth Social for Bitcoin ETF will allow investors and other organizations in the U.S. to gain considerable exposure to Bitcoin without directly holding the asset. Managed by Yorkville America Digital with Foris DAX Trust Company as custodian, this plan aligns with Donald Trump’s plans to make the U.S. a home for Bitcoin and a broader push for crypto adoption.
Although the filing could be seen as a strong bullish sentiment for Bitcoin (BTC), a rally to the upside depends more on market sentiment, institutional adoption, and SEC approvals of these filings.
Bitcoin’s price over the last few days has been discouraging, as the cryptocurrency has struggled to find strong bullish momentum to the upside, moving in a range-bound fashion between $106,000 and $102,000, resulting in choppy price action.
James Wynn Escapes Liquidation Following BTC Choppy Market Price
James Wynn, the high-stakes Hyperliquid trader, escapes a new liquidation, according to Lookonchain, all thanks to his quick deposit to lower the liquidation level. The crypto trader took to his X account to express how frustrating the past few days have been, as market makers are after his account.
Despite the market makers’ efforts to liquidate his account, the market in the last few days hasn’t been the best for traders, as the price of Bitcoin has remained in a range movement for days now, with the price continuing to hold above $102,000, acting as key support.
With institutional interest growing, this would boost the overall market sentiment for BTC towards a high of $108,000, which bulls would take better advantage of to the upside as the price of BTC has traded more in a range.
