Stacks, Bitcoin Cash, Stellar, Litecoin outlook after the new BTC news

Bitcoin price jumped by more than 5% on Tuesday after Grayscale won a major lawsuit against the Securities and Exchange Commission (SEC). The coin rose by more than 5%, triggering a major rebound in the altcoins market.

Timeline of Bitcoin-cash, Bitcoin, Litecoin, Stellar

In a significant turn of events for Bitcoin (BTC) and the overall market, cryptocurrency asset manager Grayscale has emerged victorious in its legal battle against the U.S. Securities and Exchange Commission (SEC). The U.S. District of Columbia Court of Appeals has ruled in favor of Grayscale, overturning the SEC's lawsuit and potentially bringing the company one step closer to achieving Bitcoin Spot exchange-traded fund (ETF) status.

Matrixport, a crypto service provider overseeing over $3 billion in assets, has expressed moderate optimism toward Bitcoin (CRYPTO: BTC) following its decline in August. The company sees potential in purchasing during this downturn but emphasizes the importance of a strict stop loss.

The U.S. could be on the verge of getting its first spot bitcoin exchange-traded fund after a federal court ordered the U.S. SEC to review its rejection of Grayscale Investments' attempt to convert the Grayscale Bitcoin Trust (OTC: GBTC) into an ETF. Grayscale Investments, the manager behind the leading cryptocurrency fund, first applied to convert its GBTC closed-end fund into an exchange-traded fund in October 2021, the Coindesk reports.

The U.S. Securities and Exchange Commission should have approved an application from Grayscale Investments to create a spot bitcoin exchange-traded fund, a federal appeals court ruled on Tuesday, in a landmark victory for the asset manager that could pave the way for the first product of its kind.

The price of surged Tuesday after the U.S. Court of Appeals for the DC Circuit ruled that the Securities and Exchange Commission was wrong deny crypto investment giant Grayscale permission to convert its popular bitcoin trust into an ETF.

In a landmark judgment, a US Court of Appeals for the District of Columbia Circuit handed Grayscale a win against the Securities and Exchange Commission (SEC) in the lawsuit over converting the Grayscale Bitcoin Trust to a spot Bitcoin ETF. With the recent flurry of spot ETF flings from the likes of Blackrock and Fidelity,

A federal court has ordered the SEC to review its rejection of Grayscale Investments' application to convert the Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund (ETF). This could pave the way for the US to get its first spot bitcoin ETF.

Crypto analyst Benjamin Cowen says the U.S. Federal Reserve will play an integral role in deciding when the next Bitcoin (BTC) bull market kicks off. In a new strategy session, Cowen tells his 786,000 YouTube subscribers that BTC is currently flashing a mixed bag of indicators.

Amid swirling speculations about the third biggest bitcoin wallet, chatter has now emerged linking the fifth largest BTC wallet to the late Yevgeny Prigozhin, former owner of the Wagner private military company (PMC). However, a straightforward blockchain explorer search clearly indicates the wallet bears a label identifying it as property of the U.S. government.

Canaan, a producer of legendary ASICs series Avalonminer and one of the largest corporate Bitcoin (BTC) miners, shared its unaudited Q2, 2023, report. Despite the amazing performance of all key metrics, the firm is still grappling with a challenging market context and, therefore, has failed to achieve the break-even point.