- Morgan Stanley has filed an amended Form S-1 filing with the U.S. SEC regarding the proposed Bitcoin ETF
- In today’s jump, $BTC The price makes a decisive breakout from the resistance trend line of the 3-week consolidating trend.
- According to Coinglass, the crypto market experienced a total of $589 million in liquidations.
The cryptocurrency market saw significant inflows during Wednesday’s US market hours, pushing its market capitalization to $2.47 trillion. The buying pressure may be related to changes in risk appetite as the market absorbs geopolitical headlines. $BTC Witnessed an update to the Spot Bitcoin ETF. Adding to derivatives-driven short squeeze, Morgan Stanley files new SEC filing for Spot Bitcoin ETF, inching closer to possible launch
$BTC Morgan Stanley soars after applying for Bitcoin ETF trust
Bitcoin, the pioneering cryptocurrency, is up about 8% today and is currently trading at $73,792. therefore, $BTC‘s market capitalization jumps to $1.47 billion. In response to this rapid increase, $BTCTraders with short positions witnessed a liquidation of $276 million, while traders with long positions faced a forced exit of $27 million.
Another factor driving the price recovery was new inflows into US-based spot Bitcoin ETFs. Following Monday’s inflows of $458, the Spot Bitcoin ETF reached a combined $225.2 million on Tuesday. These suggest new demand is absorbing supply and pushing up prices in a bullish recovery.
Morgan Stanley filed a Registration Statement on Form S-1, including Amendment No. 1, with the Securities and Exchange Commission on March 4, 2026. This update corresponds to the proposed Morgan Stanley Bitcoin Trust, which would be set up as a passive spot ETF that would hold actual Bitcoin to reflect its market value.
The proposed amendment lists Coinbase Custody Trust Company as the provider of Bitcoin assets, with the company primarily responsible for storing the assets using segregated accounts with cold storage solutions. Coinbase also handles prime brokerage functions such as trade execution.
The Bank of New York Mellon is referred to as the administrator, transfer agent and cash custodian responsible for accounting, stock transfer and cash-related activities.
The trust is set up to track Bitcoin price performance, and the creation and redemption of shares may be made in-kind and/or cash by authorized participants. Once those are cleared, the stock will trade on the NYSE Arca. Day-to-day management is the responsibility of the sponsor, Morgan Stanley Investment Management K.K. Registration is made under the Securities Act of 1933.
Bitcoin price recovery crosses two major resistance levels
Over the past three weeks, Bitcoin price has traded in a narrow range, guided by two converging trendlines in an inverted pennant pattern. Amid widespread market uncertainty and geopolitical tensions, $BTC Fluctuations reflect a lack of initiation from buyers or sellers.
However, a significant spike in buying pressure today has pushed the coin price above the triangle’s upward trajectory at $68,000 and the major horizontal resistance at $73,387.
The return of the momentum indicator RSI to 57% highlights the renewed bullish momentum in the price.
If this breakout persists, Bitcoin price could rise by 10% before challenging the key downward resistance trend line at $80,800. Buyers will need to overcome this resistance to drive a sustainable recovery trend in the medium term.
$BTC/USDT -1 day chart
Conversely, if the coin price encounters renewed selling pressure at this resistance level, the ongoing correction could continue this month.
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