Bitcoin Reclaims $120K, Approaches New Highs; SEC Delays Dogecoin ETF Decision
Bitcoin has demonstrated remarkable strength, reclaiming the $120,000 level and approaching new all-time highs. Meanwhile, the SEC has delayed its decision on a Dogecoin ETF, leaving investors in anticipation.
Bitcoin's price action has been bullish, with consecutive higher highs and higher lows, indicating a strong market structure. It has recently reclaimed the $120,000 level, a significant psychological barrier, and is now testing the $123,348 resistance level. This could pave the way for new all-time highs.
Institutional players are showing confidence in Bitcoin, with open interest rising. This indicates increasing demand and supports the continuation of the bullish trend toward $131,000.
The SEC has postponed its decision on the Bitwise Dogecoin ETF until November 12, 2025. Investors widely expect approval, which could trigger major inflows and potentially push Dogecoin prices significantly higher, even beyond $1. Analysts predict strong bullish momentum similar to earlier Bitcoin and Ethereum ETFs.
Bitcoin's bullish momentum is building, with key levels held and new highs within reach. Meanwhile, the SEC's delay on the Dogecoin ETF keeps investors in anticipation of potential major inflows and price increases for Dogecoin.
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