Bitcoin is now higher for the week as rebound continues

Velishchuk/iStock via Getty Images Staring into the abyss on Tuesday morning as bitcoin (BTC-USD) plunged to a $28K-handle, the bulls have regained some control since, with the popular crypto minutes ago crossing above $35K. It hardly seems the start of a new bull market, but instead a return to the roughly $32K-$38K range that bitcoin has been in for the last month (with occasional, short-lived pops above or below). Checking some news items, the long-held pipe dream of a U.S.-based Bitcoin ETF appears to be just that, with the SEC earlier this week pushing of Van Eck's application for further review. Not much of a shocker, but the team at JPMorgan has found another reason to be bearish on bitcoin, noting a lockup expiration coming next month for shares in the Grayscale Bitcoin Trust (GBTC). Grayscale holds about 3% of bitcoin supply, so the action of institutional holders of that