- Morgan Stanley submitted an amended Form S-1 filing to the U.S. SEC for its proposed Bitcoin ETFF
- With today’s jump, BTC price gives a decisive breakout from the resistance trendline of a three weeks consolidation trend,
- According to coinglass, the crypto market witnessed a total liquidation of $589 million.
The crypto market witnessed a significant inflow during Wednesday’s U.S market hours, which pushed its market cap to $2.47 trillion. The buying pressure can be linked to a shift in risk appetite as the market absorbed geopolitical headlines, and BTC witnessed renewed spot Bitcoin ETFs. Along with derivatives-driven short squeeze, Morgan Stanley files a new SEC filing for its spot Bitcoin ETF, gradually nearing the potential launch
BTC Jumps After Morgan Stanley Files for Bitcoin ETF Trust
The pioneer cryptocurrency, Bitcoin, is up roughly 8% today, currently trading at $73,792. Consequently, the BTC’s market cap jumps to $1.47 billion. Following this surge, the BTC’s short positioned traders witnessed a liquidation of $276 million, while long traders faced $27 million in forced exit.
Another factor that bolstered price recovery is renewed inflow into the U.S. based spot Bitcoin ETF. On Tuesday, spot Bitcoin ETF collectively welcomed $225.2 million following the $458 inflow on Monday. These suggest fresh demand absorbing supply, bolstering the price for bullish recovery.
Morgan Stanley submitted its Form S-1 registration statement including Amendment No. 1 to the U.S. Securities and Exchange Commission on March 4, 2026. This update addresses the proposed Morgan Stanley Bitcoin Trust which is set up as a passive spot exchange-traded fund which holds actual Bitcoin to reflect its market value.
The amendment lists Coinbase Custody Trust Company as the provider for the Bitcoin assets, which is responsible for safekeeping the assets using segregated accounts with mostly cold storage solutions. Coinbase also takes care of prime brokerage functions such as trade execution.
The Bank of New York Mellon is called administrator, transfer agent and cash custodian responsible for accounting, transfer of shares and cash-related operations.
The trust is set to track the performance of the price of Bitcoin, and share creations and redemptions could be either in-kind and/or in cash by authorized participants. If they are cleared, shares would trade on NYSE Arca. Day to day management is the responsibility of Morgan Stanley Investment Management Inc. as sponsor. The registration goes under the Securities Act of 1933.
Bitcoin Price Recovery Surpass two Major Resistances
Over the past three weeks, the Bitcoin price traded in a narrow range led by two converging trendlines of an inverted pennant pattern. Amid the broader market uncertainty and geopolitical tension, the BTC fluctuation reflects lack of initiation from buyers or sellers.
However, with today’s massive spike in buying pressure, the coin price breached the triangle’s upper trajectory at $68,000 and a key horizontal resistance at $73,387.
The momentum indicator RSI back to 57% accentuate the renewed bullish momentum in price.
If the breakout sustains, the Bitcoin price could jump 10% before challenging the key downsloping resistance trendline at $80,800. The buyer must surpass this resistance to drive a sustainable recovery trend in mid-term.
On the contrary, if coin price witnessed renewed selling pressure at this resistance, the ongoing correction could prolong for this month.
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