Price analysis 8/30: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, TON, DOT, MATIC By Cointelegraph

led the cryptocurrency markets higher on Aug. 29 following Grayscale’s victory in the lawsuit against the United States Securities and Exchange Commission. However, the rally could not be sustained, as analysts cautioned that the victory did not guarantee the approval of a spot Bitcoin (BTC) exchange-traded fund.

Still, the victory may prove to be bullish for Grayscale. Glassnode analysts said in an X (formerly Twitter) post on Aug. 30 that the Grayscale Bitcoin Trust (GBTC) could return to a premium next year. It is important to note that GBTC has been trading at a discount to the spot Bitcoin price for the past two and a half years.