Bitcoin Rebounds Above $84,000; US Jobs Data, SEC Tokenized Stock Trading Exemption in Focus This Week
Summary
- Bitcoin extended its rebound after the Fed’s rate increase, climbing above the $84,000 level.
- The SEC’s five-year temporary regulatory exemption for tokenized stock trading, along with conditional regulatory relief for some platforms, emerged as a new market variable.
- This week’s US employment and consumer data releases, as well as large token unlocks for TON and Humanity (H), could influence the market.
Forecast Trend Report by Period
Bitcoin (BTC) is extending its rebound after last week’s Federal Reserve rate increase. This week, key variables include US employment and consumer data and a Securities and Exchange Commission regulatory exemption tied to tokenized stock trading.
CoinDesk, a digital-asset news outlet, reported on September 21 that Bitcoin rose above $84,000. The market is rebounding as investors absorb the hawkish tone following the Fed’s rate increase last week.
A five-year temporary SEC regulatory exemption for tokenized stock trading will take effect on September 22. Trading platforms that meet certain requirements will be allowed to test trades in tokenized US stocks using public blockchains. The SEC had previously granted conditional regulatory relief on September 17 to some tokenized securities trading platforms and liquidity providers.
Key macroeconomic releases this week include US initial jobless claims and August new home sales on September 24. August durable goods orders and the final September reading of the University of Michigan consumer sentiment index are due on September 25.
In the token market, TON will unlock $51.2 million of tokens on September 22, equivalent to 1.3% of its circulating supply. On September 23, Humanity (H) will release an additional $20.8 million of tokens, or 14.7% of its circulating supply.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.