Bitcoin SV (BSV), Bitcoin Cash (BCH) Emerges as BTC ETF Hopes Rise.
Bitcoin SV and Bitcoin Cash prices were among the top performing currencies on Monday as optimism returned in the crypto market. BSV jumped over 13% to $38.27 and Bitcoin Cash jumped to $228.64. Other top performing cryptocurrencies were Solana and Stacks.
The main impetus for the rally was the continued hope that the Securities and Exchange Commission (SEC) would approve the Bitcoin ETF. These hopes were bolstered by the SEC's decision to proceed without appealing the Grayscale case.
BCH and BSV prices rise after Cointelegraph false report, SEC suggests iShares Bitcoin Trust is on hold That report pushed Bitcoin to nearly $30,000 and retreated shortly thereafter.
Bitcoin Cash and Bitcoin SV jumped as optimism continued in the market. The move was exemplified by the strong performance of US stocks. The Nasdaq 100 index jumped more than 1.10%, while the S&P 500 and Dow Jones each jumped more than 1%.Historically, cryptocurrencies tend to do well when stocks rise.
It is still too early to decide whether the SEC will approve the Bitcoin ETF due to the risk of BSV and BCH. If done, these coins will rise, because it will increase the possibility of companies filing for their own ETFs.
Another risk for these cryptocurrencies is that price inflation is expected to increase over the past weeks. The implication is that the Fed will hold a hawkish vote in the coming months.
