Bitcoin price is up today, rising 5% after a court ruling in favor of Grayscale Bitcoin Trust (GBTC) against the U.S. Securities and Exchange Commission (SEC). This decision has sparked growing institutional interest in Bitcoin, with companies like BlackRock and Fidelity Investments eagerly awaiting answers about their BTC spot ETFs. The judge’s ruling has also provided a boost to the Grayscale ETF, and the BTC supply on exchanges is dropping to its lowest level since January 2018. With liquidations causing volatility and a high short ratio in the futures market, there is potential for a short-squeeze and further price upside for Bitcoin.
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