Stock Market Sees Strong Recovery
The United States' equities markets are showing signs of a rebound after the S&P 500 Index (SPX) recorded its best week since June, surging 2.50% last week. Investors are optimistic as stocks regain strength, signaling a potential recovery in the market.
Bitcoin Attempts Relief Rally
Bitcoin (BTC) tried to rally last week, following the upward trend in the stock market. However, the bulls couldn't sustain the higher levels, resulting in a marginal loss of 0.5% for Bitcoin.
SEC Decision Impacts Bitcoin's Performance
Bitcoin's struggles can largely be attributed to a delay in the Securities and Exchange Commission's decision on spot Bitcoin exchange-traded fund applications. The uncertainty surrounding the approval of these applications dampened market sentiment and contributed to Bitcoin giving back its gains.
Despite this setback, investors remain hopeful that Bitcoin will regain momentum in the coming weeks, as market conditions stabilize and regulatory clarity emerges.
