(7/15, Thu) btc closed flat probably due to weak dollar index

Yesterday(7/14 00:00 - 24:00, UTC+0), bitcoin price recorded its starting as $32712, its lowest as $31573, its highest as $33080, its closing as $32806. Bitcoin started its decline after the start of Wednesday, breaking below $32,000 with large sell volumes at 03:15, and immediately rebounded as soon as it reached a low at 09:00, reaching a high at 18:30 and closing a final strong flat.

In the financial market, when Chairman Powell expressed confidence in the economy and continued moderate monetary policy at the National Assembly hearing, the dollar index fell to 92.4 and the US 10-year Treasury yield, which rose to 1.41 the day before, fell again to 1.34. As I keep saying, a weak dollar is more favorable to the cryptocurrency market than a strong dollar.

As a news on the cryptocurrency market, the US SEC has delayed the approval of the Bitcoin ETF requested by Wisdom Tree back to September. The reason is that it takes more than two months to ask the public for opinions on concerns about market manipulation and whether investors are protected. So there are also opinions in the cryptocurrency industry that it will be difficult for a Bitcoin ETF to be approved within this year. Perhaps the SEC is deliberately delaying the approval of the Bitcoin ETF to prevent overheating of the cryptocurrency market.