Bitcoin (BTC) tapered losses on Nov. 13 as the market showed little interest in United States regulators refusing to let a spot substitution-traded fund (ETF).

BTC/USD i-hr candle chart (Bitstamp). Source: TradingView

ETF rejection causes few market headaches

Data from Cointelegraph Markets Pro and TradingView showed calm conditions for BTC/USD into the weekend, the pair acting within a $ane,000 corridor.

News that the U.Southward. Securities and Exchange Commission had declined to approve VanEck's spot ETF production saw a dip toward $lx,000 back up simply failed to spark significant volatility.

The first of multiple decisions regarding spot ETFs, the VanEck episode came as little surprise to many, simply the firm expressed "disappointment" in the event.

"Nosotros are disappointed in today'due south update from the SEC declining approving of our physical bitcoin ETF," Jan van Eck responded on Twitter.

"We believe that investors should be able to gain BTC exposure through a regulated fund and that a non-futures ETF structure is the superior approach."

Other commentators were more vocal, with Matias Dorta, vice president of marketing at asset manager Roundhill Investments, noting the disadvantages to investors from eight years of SEC rejections.

"The SEC starting time rejected a $BTC ETF in 2022. They successfully protected investors from +12,700% gains," he argued.

Bitcoin ETF timeline. Source: Cabalistic Inquiry

Weekly close keeps everyone guessing

Moving on from the rejection, traders, meanwhile, focused on the weekly shut.

Related: Bitcoin due to hit $90K 'in coming weeks' despite pullback — Latest technical analysis

BTC/USD needed to remain above range resistance in play since the initial $64,900 from April, pop trader Pentoshi said, this forming the key feature in the coming days.

Beau analyst Rekt Uppercase, meanwhile, maintained a firmly bullish perspective on longer-term price potential.

"All data scientific discipline models advise that BTC volition peak much higher than $100,000 in this cycle," he said in one of a series of tweets Friday.

Others pointed to the lack of bear witness to suggest the bull market had ended or was fifty-fifty under threat at its electric current stage.