Why Bitcoin bears are trying to keep BTC price below $62K for

‘s (BTC) 90% year-to-date gain was largely fueled by the United States Securities and Exchange Commission’s (SEC) recent exchange-traded fund (ETF) approval and in the first 48-hours of listing, ProShares’ Bitcoin Strategy ETF (BITO) was able to amass $1.1 billion in assets under management.

On Nov. 1, the U.S. Treasury released its stablecoins report, which basically urged Congress to regulate the industry. In short, the working group expects government agencies to require stablecoin issuers to meet the same standards as insured depository institutions.