bitcoinETF
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As the spot Bitcoin ETF fire continues to burn, the United States Securities and Exchange Commission (SEC) has acknowledged receiving an application from Valkyrie Investments.
#bitcoinETF #SECNews #crypto2023
#bitcoinETF #SECNews #crypto2023
According to the Cboe website, after #bitcoinETF ‘s the $ARKB, $HODL and $BTCW will be tradable on January 11, 2024!
#Write2earn #Bitcoin Pullback: #ETF Outflows Signal Market Uncertainty, one of the worst weeks in 2024 #bitcoinETF #bloodbath $BTC
Bitcoin has pulled back over 10% from its peak, mainly due to reduced interest in new spot Bitcoin exchange-traded funds. JPMorgan Chase and Co. analysts are cautioning that this pullback might have further to go.
The cluster of 10 spot Bitcoin ETFs is witnessing its largest weekly outflow since their launch on January 11. Concurrently, Bitcoin, the world’s largest cryptocurrency, is experiencing one of its toughest weeks this year, with a 4% drop. Its value stands at $65,434 as of 9:48 a.m. Friday in London.
According to JPMorgan strategists, Bitcoin appears to be overvalued, echoing their earlier prediction in February of possible declines leading up to April's highly anticipated halving event, which will reduce the supply of newly mined Bitcoin.
The sustained interest in CME Bitcoin futures coupled with declining flows into ETFs are significant warning signs for Bitcoin's price, the strategists noted in a Thursday report.
The strategists also highlighted a slowdown in net inflows into spot Bitcoin ETFs, particularly evident in the past week with significant outflows. This challenges the expectation of a continuous one-way influx into spot Bitcoin ETFs. They anticipate profit-taking to persist as the halving event nears, especially given the currently overbought market sentiment despite the recent correction.
In the previous month, the bank forecasted a potential drop in Bitcoin's price to around $42,000 post-April as the hype around the halving event diminishes.
From Monday through Thursday, a net $836 million was withdrawn from ETFs, reflecting outflows from the Grayscale Bitcoin Trust and a decrease in subscriptions for similar offerings from companies like BlackRock Inc. and Fidelity Investments.
Despite the record high of nearly $73,798 on March 14, retail trader enthusiasm may be fading, according to Naeem Aslam, chief investment officer at Zaye Capital Markets.
Bitcoin has pulled back over 10% from its peak, mainly due to reduced interest in new spot Bitcoin exchange-traded funds. JPMorgan Chase and Co. analysts are cautioning that this pullback might have further to go.
The cluster of 10 spot Bitcoin ETFs is witnessing its largest weekly outflow since their launch on January 11. Concurrently, Bitcoin, the world’s largest cryptocurrency, is experiencing one of its toughest weeks this year, with a 4% drop. Its value stands at $65,434 as of 9:48 a.m. Friday in London.
According to JPMorgan strategists, Bitcoin appears to be overvalued, echoing their earlier prediction in February of possible declines leading up to April's highly anticipated halving event, which will reduce the supply of newly mined Bitcoin.
The sustained interest in CME Bitcoin futures coupled with declining flows into ETFs are significant warning signs for Bitcoin's price, the strategists noted in a Thursday report.
The strategists also highlighted a slowdown in net inflows into spot Bitcoin ETFs, particularly evident in the past week with significant outflows. This challenges the expectation of a continuous one-way influx into spot Bitcoin ETFs. They anticipate profit-taking to persist as the halving event nears, especially given the currently overbought market sentiment despite the recent correction.
In the previous month, the bank forecasted a potential drop in Bitcoin's price to around $42,000 post-April as the hype around the halving event diminishes.
From Monday through Thursday, a net $836 million was withdrawn from ETFs, reflecting outflows from the Grayscale Bitcoin Trust and a decrease in subscriptions for similar offerings from companies like BlackRock Inc. and Fidelity Investments.
Despite the record high of nearly $73,798 on March 14, retail trader enthusiasm may be fading, according to Naeem Aslam, chief investment officer at Zaye Capital Markets.
👨🏻💻BTC's correlation with the Nasdaq 100 has dropped to 3% this month, hitting its lowest level in three years. On average, this figure was 60% in 2022.
💁🏻♂️Bitcoin is up 14% this month, while the Nasdaq index of the 100 largest and most actively traded US companies is only 3%.
👾And although historically a drop in the correlation of BTC with traditional assets could mean further growth, most likely this decline is the result of a strong rise in BTC against the backdrop of positive news from ETFs. #bitcoinETF $BTC
💁🏻♂️Bitcoin is up 14% this month, while the Nasdaq index of the 100 largest and most actively traded US companies is only 3%.
👾And although historically a drop in the correlation of BTC with traditional assets could mean further growth, most likely this decline is the result of a strong rise in BTC against the backdrop of positive news from ETFs. #bitcoinETF $BTC
JUST IN: 🇺🇸 SEC approves first leveraged #Bitcoin futures ETF.
$BTC $ETH $BNB #crypto2023 #bitcoinETF #dyor #breakout_expert
$BTC $ETH $BNB #crypto2023 #bitcoinETF #dyor #breakout_expert
12 марта спотовые биткоин-ETF зафиксировали чистый приток $1 млрд
12 марта стало ещё одним днём рекордных притоков в недавно утверждённые биржевые биткоин-фонды в Соединённых Штатах.
По данным BitMEX Research, 12 марта чистый приток биткоинов в ETF превысил $1 млрд. При этом в продукт Blackrock IBIT, активы под управлением которого на этой неделе превысили 200 000 BTC, получил рекордный приток в размере $849 млн.
В криптовалюте также был зафиксирован рекордный приток в 14 706 BTC. С 11 января 2024 года общий чистый приток биткоин-ETF достиг $4,1 млрд.
По состоянию на вчерашний день спотовые биткоин-ETF занимали более 90% доли рынка ежедневных торгов ETF на основе BTC, в то время как ETF на фьючерсы на биткоины сейчас занимают лишь 10%.
Спотовые биткоин-ETF в США добились большого успеха, превзойдя даже самые оптимистичные ожидания, — заметил аналитик GSR Брайан Рудик.
Их приток более $10 млрд всего за два месяца говорит о том, что большинство ожидало возможности участвовать в них в первый год. И есть аргументы в пользу того, почему притоки могут увеличиться…
#etf #bitcoinETF #Bitcoin #HotTrends #CryptoNews
$BTC
12 марта стало ещё одним днём рекордных притоков в недавно утверждённые биржевые биткоин-фонды в Соединённых Штатах.
По данным BitMEX Research, 12 марта чистый приток биткоинов в ETF превысил $1 млрд. При этом в продукт Blackrock IBIT, активы под управлением которого на этой неделе превысили 200 000 BTC, получил рекордный приток в размере $849 млн.
В криптовалюте также был зафиксирован рекордный приток в 14 706 BTC. С 11 января 2024 года общий чистый приток биткоин-ETF достиг $4,1 млрд.
По состоянию на вчерашний день спотовые биткоин-ETF занимали более 90% доли рынка ежедневных торгов ETF на основе BTC, в то время как ETF на фьючерсы на биткоины сейчас занимают лишь 10%.
Спотовые биткоин-ETF в США добились большого успеха, превзойдя даже самые оптимистичные ожидания, — заметил аналитик GSR Брайан Рудик.
Их приток более $10 млрд всего за два месяца говорит о том, что большинство ожидало возможности участвовать в них в первый год. И есть аргументы в пользу того, почему притоки могут увеличиться…
#etf #bitcoinETF #Bitcoin #HotTrends #CryptoNews
$BTC
#write2earn Navigating #Bitcoin 's Recent Trends: #Grayscale Influence and Price Analysis #bitcoinETF #Bullmarlet
$BTC
Over the past five days, the significant outflow of Bitcoin ($BTC ), driven by the selling of Grayscale Spot ETF, has been balanced by a substantial inflow of $418 million on Tuesday. This indicates a likely decrease in Grayscale outflows soon, paving the way for renewed Bitcoin buying momentum.
During this period, Grayscale Bitcoin Spot ETF (GBTC) has been consistently selling Bitcoin into the market, coinciding with dwindling inflows in other 9 Spot Bitcoin ETFs. Surprisingly, despite these sell-offs, the Bitcoin price has seen an upward trend.
Who else has been participating in Bitcoin transactions? Much attention has been on Spot Bitcoin ETFs, with Grayscale alone selling over $500 billion worth of Bitcoin since January 11, almost half of its holdings, in just two months. Despite this massive sell-off, other Spot Bitcoin ETFs have made significant purchases, as seen with Tuesday's $418 million net inflow.
However, the question arises: who was buying during the five days when these 9 ETFs were making minimal purchases? It seems that adoption of Bitcoin is on the rise, with influential individuals becoming increasingly aware of its potential. With just a few billionaires entering the market, the supply of Bitcoin could rapidly decrease.
Already, the daily mined supply of Bitcoin is being bought up multiple times over, particularly by Spot Bitcoin ETFs. When considering factors like the impending halving in April and notable investors like "Mr 100," a supply shock seems imminent.
In terms of Bitcoin's next move, examining the short-term hourly chart reveals a potential bearish pattern forming, with the price hovering around support at $69,450. However, there's a possibility of an upside breakout if the price remains within the larger triangle and doesn't drop below $68,000.
Zooming out to the 4-hour timeframe, Bitcoin appears to be forming a bullish inverse head and shoulders pattern, with the neckline breached upwards.
$BTC
Over the past five days, the significant outflow of Bitcoin ($BTC ), driven by the selling of Grayscale Spot ETF, has been balanced by a substantial inflow of $418 million on Tuesday. This indicates a likely decrease in Grayscale outflows soon, paving the way for renewed Bitcoin buying momentum.
During this period, Grayscale Bitcoin Spot ETF (GBTC) has been consistently selling Bitcoin into the market, coinciding with dwindling inflows in other 9 Spot Bitcoin ETFs. Surprisingly, despite these sell-offs, the Bitcoin price has seen an upward trend.
Who else has been participating in Bitcoin transactions? Much attention has been on Spot Bitcoin ETFs, with Grayscale alone selling over $500 billion worth of Bitcoin since January 11, almost half of its holdings, in just two months. Despite this massive sell-off, other Spot Bitcoin ETFs have made significant purchases, as seen with Tuesday's $418 million net inflow.
However, the question arises: who was buying during the five days when these 9 ETFs were making minimal purchases? It seems that adoption of Bitcoin is on the rise, with influential individuals becoming increasingly aware of its potential. With just a few billionaires entering the market, the supply of Bitcoin could rapidly decrease.
Already, the daily mined supply of Bitcoin is being bought up multiple times over, particularly by Spot Bitcoin ETFs. When considering factors like the impending halving in April and notable investors like "Mr 100," a supply shock seems imminent.
In terms of Bitcoin's next move, examining the short-term hourly chart reveals a potential bearish pattern forming, with the price hovering around support at $69,450. However, there's a possibility of an upside breakout if the price remains within the larger triangle and doesn't drop below $68,000.
Zooming out to the 4-hour timeframe, Bitcoin appears to be forming a bullish inverse head and shoulders pattern, with the neckline breached upwards.
Billionaire Rubenstein: BlackRock's Bitcoin Love - A Mighty Boost for Crypto Chuckles!
Billionaire Brainiac Rubenstein, co-founder of The Carlyle Group, gives a thumbs-up to BlackRock's Bitcoin ETF move. He hints, "If BlackRock's in, Bitcoin's here to stay!" Rubenstein's playful chat with Bloomberg reveals that even while crypto skeptics giggle, big shots like BlackRock are joining the Bitcoin bash.
Rubenstein isn't joining the parade himself, but he's having some "what if" regrets. Imagine if he grabbed Bitcoin at $100—like buying a unicorn for pocket change! 🦄💸 Beyond the U.S., the world's crypto-curious, and Rubenstein suggests they're after the ultimate secret party trick: untraceable trades! 🎉
#bitcoin #bitcoinETF #blackrock
Billionaire Brainiac Rubenstein, co-founder of The Carlyle Group, gives a thumbs-up to BlackRock's Bitcoin ETF move. He hints, "If BlackRock's in, Bitcoin's here to stay!" Rubenstein's playful chat with Bloomberg reveals that even while crypto skeptics giggle, big shots like BlackRock are joining the Bitcoin bash.
Rubenstein isn't joining the parade himself, but he's having some "what if" regrets. Imagine if he grabbed Bitcoin at $100—like buying a unicorn for pocket change! 🦄💸 Beyond the U.S., the world's crypto-curious, and Rubenstein suggests they're after the ultimate secret party trick: untraceable trades! 🎉
#bitcoin #bitcoinETF #blackrock
#write2earn #BITCOIN #ETF OUTFLOWS SIGNAL MARKET SHIFT: INSIGHTS AND ANALYSIS #bitcoinETF #BTC_ANALYSIS
Over the last three days, a cluster of 10 spot-Bitcoin exchange-traded funds experienced their most significant outflow since they launched in January. This marks a shift from the previous rush for exposure that had propelled the token to its highest-ever value.
Between Monday and Wednesday, a total of $742 million exited these ETFs. This reflects withdrawals from the Grayscale Bitcoin Trust and a slowdown in subscriptions for similar offerings from companies like BlackRock Inc. and Fidelity Investments.
Despite this recent outflow, these funds have still attracted a total of $11.4 billion in net inflows since their inception, making it one of the most successful launches for this type of ETF.
On Wednesday, Bitcoin surged more than 5% in the US after signals from the Federal Reserve hinted at potential interest-rate cuts, lifting various asset classes. However, this upward momentum stalled in Asia on Thursday, even as global stocks and gold continued to rise, with the ETF outflow data making its mark on the markets.
Following the Fed's decision, cryptocurrency regained some steam, but according to Chris Weston, head of research for Pepperstone Group, more effort is needed to sustain this momentum. As of 7:33 a.m. in London, Bitcoin was trading at $67,300, approximately $6,500 below its all-time high reached on March 14 amid heightened enthusiasm about the ETFs and the impending reduction in the token's supply growth.
Over the last three days, a cluster of 10 spot-Bitcoin exchange-traded funds experienced their most significant outflow since they launched in January. This marks a shift from the previous rush for exposure that had propelled the token to its highest-ever value.
Between Monday and Wednesday, a total of $742 million exited these ETFs. This reflects withdrawals from the Grayscale Bitcoin Trust and a slowdown in subscriptions for similar offerings from companies like BlackRock Inc. and Fidelity Investments.
Despite this recent outflow, these funds have still attracted a total of $11.4 billion in net inflows since their inception, making it one of the most successful launches for this type of ETF.
On Wednesday, Bitcoin surged more than 5% in the US after signals from the Federal Reserve hinted at potential interest-rate cuts, lifting various asset classes. However, this upward momentum stalled in Asia on Thursday, even as global stocks and gold continued to rise, with the ETF outflow data making its mark on the markets.
Following the Fed's decision, cryptocurrency regained some steam, but according to Chris Weston, head of research for Pepperstone Group, more effort is needed to sustain this momentum. As of 7:33 a.m. in London, Bitcoin was trading at $67,300, approximately $6,500 below its all-time high reached on March 14 amid heightened enthusiasm about the ETFs and the impending reduction in the token's supply growth.
BlackRock's iShares Spot Bitcoin ETF Relisted on the DTCC (Depository Trust & Clearing Corporation).
#WebGTR #BlackRock #bitcoinETF #BTC #etf
#WebGTR #BlackRock #bitcoinETF #BTC #etf
NEWS:
Ripple's 2024 forecast predicts big tech companies like Amazon, Uber, and Apple adopting cryptocurrency and blockchain, focusing on real-world utility and regulatory alignment.
📈 Potential positive impact on Bitcoin's price due to increased mainstream adoption and trust in cryptocurrencies.
REASON: The shift from speculative hype to real-world applications and institutional adoption signals a maturing crypto market, likely boosting investor confidence in cryptocurrencies like Bitcoin.
#etf #bitcoinETF
Ripple's 2024 forecast predicts big tech companies like Amazon, Uber, and Apple adopting cryptocurrency and blockchain, focusing on real-world utility and regulatory alignment.
📈 Potential positive impact on Bitcoin's price due to increased mainstream adoption and trust in cryptocurrencies.
REASON: The shift from speculative hype to real-world applications and institutional adoption signals a maturing crypto market, likely boosting investor confidence in cryptocurrencies like Bitcoin.
#etf #bitcoinETF
Outlook for 2024
What was it like. Bitcoin was in the $15,000 - $17,000 range and over 80% of all analysts were saying a move into the $10,000 - $12,000 area was imminent. There was a high level of fear in the market. What is the situation now? Let's try to reflect on the outlook for 2024.
▫️ Sentiment. News feeds are littered with posts like "2024 will make you rich", "bitcoin is in the early stages of a bull cycle", etc. The mood of 90% of the audience is approximately as follows: "a slight correction is acceptable, but overall only growth is expected". It is necessary to realize that the crowd's expectations have already come true twice. The first time on the Uptober trend, the second time on the "Santa rally". The next crowd expectation is for growth on the Halving.
▫️ Institutionals & ETFs. ETF adoption is probably the only infomercial on which the market is currently being hyped. The problem is that no one is writing about the true reasons for the rejections. The SEC rejected both 2022 (https://www.federalregister.gov/d/2022-01384/p-77) and 2023 (https://www.sec.gov/Archives/edgar/data/1588489/000119312523282341/d720350ds3a.htm) for identical reasons: non-transparency of stablecoins, insider trading, illegal transactions, wash-trading, etc.
In an interview for Bloomberg, Gary Gensler clearly points out that the crypto market is still small for the trijeris market, it lacks compliance, lacks necessary laws and at the end added: "The SEC reviews all filings as they are made in the normal course of business whether they are from cryptocurrency companies or not."
▫️ Blockchain, mining and centralization. Having done the research, it is clear that miners are betting too high on the upcoming growth. The number of mining pools has tripled in recent years. Only two mining pools control (https://www.blockchain.com/explorer/charts/pools) 55% of bitcoin hashrate, meaning the level of centralization is very high.
There are more and more incidents of direct influence (https://twitter.com/WuBlockchain/status/1727320369521160491) of the regulator on bitcoin transactions, as well as cases with deliberate creation of erroneous blocks.
▫️ Technical Analysis. The whole year bitcoin has been moving in an ascending channel, the exit from which is usually downward. The asset also has one single clearly distinguishable extremum of $16,000. Since 2021 the price has been declining without breaking the LH&LL structure, followed by a month of sideways movement and growth without breaking the HL&HH structure. The simplification of the structure suggests that the catch is close. A consolidation under $37,000 will mean a false exit from the ascending channel.
Conclusions
Long expectations of that year were met. But there was a chain of events during this year, which indicate the end of the bull rally and the return of the price to $20,000. Even if a spot bitcoin-ETF is adopted, it will not lead to the results that are expected now. At least because history with ETF adoption has already been repeated in other countries at bitcoin above $62,000.
👍- if the review is informative
#bitcoinETF #BinanceWish #CryptoTrends2024 #BinanceSquareAnalysis #BinanceSquareInsight $BTC
▫️ Sentiment. News feeds are littered with posts like "2024 will make you rich", "bitcoin is in the early stages of a bull cycle", etc. The mood of 90% of the audience is approximately as follows: "a slight correction is acceptable, but overall only growth is expected". It is necessary to realize that the crowd's expectations have already come true twice. The first time on the Uptober trend, the second time on the "Santa rally". The next crowd expectation is for growth on the Halving.
▫️ Institutionals & ETFs. ETF adoption is probably the only infomercial on which the market is currently being hyped. The problem is that no one is writing about the true reasons for the rejections. The SEC rejected both 2022 (https://www.federalregister.gov/d/2022-01384/p-77) and 2023 (https://www.sec.gov/Archives/edgar/data/1588489/000119312523282341/d720350ds3a.htm) for identical reasons: non-transparency of stablecoins, insider trading, illegal transactions, wash-trading, etc.
In an interview for Bloomberg, Gary Gensler clearly points out that the crypto market is still small for the trijeris market, it lacks compliance, lacks necessary laws and at the end added: "The SEC reviews all filings as they are made in the normal course of business whether they are from cryptocurrency companies or not."
▫️ Blockchain, mining and centralization. Having done the research, it is clear that miners are betting too high on the upcoming growth. The number of mining pools has tripled in recent years. Only two mining pools control (https://www.blockchain.com/explorer/charts/pools) 55% of bitcoin hashrate, meaning the level of centralization is very high.
There are more and more incidents of direct influence (https://twitter.com/WuBlockchain/status/1727320369521160491) of the regulator on bitcoin transactions, as well as cases with deliberate creation of erroneous blocks.
▫️ Technical Analysis. The whole year bitcoin has been moving in an ascending channel, the exit from which is usually downward. The asset also has one single clearly distinguishable extremum of $16,000. Since 2021 the price has been declining without breaking the LH&LL structure, followed by a month of sideways movement and growth without breaking the HL&HH structure. The simplification of the structure suggests that the catch is close. A consolidation under $37,000 will mean a false exit from the ascending channel.
Conclusions
Long expectations of that year were met. But there was a chain of events during this year, which indicate the end of the bull rally and the return of the price to $20,000. Even if a spot bitcoin-ETF is adopted, it will not lead to the results that are expected now. At least because history with ETF adoption has already been repeated in other countries at bitcoin above $62,000.
👍- if the review is informative
#bitcoinETF #BinanceWish #CryptoTrends2024 #BinanceSquareAnalysis #BinanceSquareInsight $BTC
VanEck ликвидирует свой фьючерсный биткоин-ETF
Спустя неделю после запуска спотовых биткоин-ETF в США компания-эмитент VanEck закрывает свой фьючерсный фонд по BTC
Управляющий активами VanEck объявил о ликвидации фьючерсного биткоин-ETF. Среди причин такого решения — спад производительности и снижение интереса со стороны инвесторов.
17 января попечительский совет VanEck одобрил ликвидацию фьючерсного ETF на BTC на бирже Cboe BZX. Фонд появился в ноябре 2021 года и инвестировал в контракты на базе первой криптовалюты.
Решение последовало за одобрением Комиссией по ценным бумагам и биржам США (SEC) спотовых биткоин-ETF, что стало одной из причин для закрытия.
#Bitcoin-BTC #BitcoinWorld #etf #SEC #bitcoinETF
$BTC
Спустя неделю после запуска спотовых биткоин-ETF в США компания-эмитент VanEck закрывает свой фьючерсный фонд по BTC
Управляющий активами VanEck объявил о ликвидации фьючерсного биткоин-ETF. Среди причин такого решения — спад производительности и снижение интереса со стороны инвесторов.
17 января попечительский совет VanEck одобрил ликвидацию фьючерсного ETF на BTC на бирже Cboe BZX. Фонд появился в ноябре 2021 года и инвестировал в контракты на базе первой криптовалюты.
Решение последовало за одобрением Комиссией по ценным бумагам и биржам США (SEC) спотовых биткоин-ETF, что стало одной из причин для закрытия.
#Bitcoin-BTC #BitcoinWorld #etf #SEC #bitcoinETF
$BTC
There are already 20 spot bitcoin-ETFs launched globally, which have raised $4.16 billion 👆 👆
The leader in this market is Canada, with second place going to Germany.
The question of the week with a claim to the question of the year: if the SEC approves a spot ETF in the US will more money be raised in it?
Clearly, BlackRock and Fidelity are now getting into the game, but if they actually needed such a fund, they would have bought shares of the Canadian Purpose Bitcoin ETF a long time ago 🙄
$BTC #bitcoinETF
The leader in this market is Canada, with second place going to Germany.
The question of the week with a claim to the question of the year: if the SEC approves a spot ETF in the US will more money be raised in it?
Clearly, BlackRock and Fidelity are now getting into the game, but if they actually needed such a fund, they would have bought shares of the Canadian Purpose Bitcoin ETF a long time ago 🙄
$BTC #bitcoinETF
Bitcoin Price Set for Strong Weekly Close Amid Options Expiry
#bitcoin analysis :
The world’s largest cryptocurrency Bitcoin (BTC) is poised for the strongest weekly close after March this year, amid a flurry of applications for spot #bitcoinETF from some of the largest financial institutions in the world.
Bitcoin is currently flirting around $30,000 levels after making strong gains earlier this week. As of press time, BTC is trading at $30,015 with a market cap of $582 billion.
#BlackRock has put its foot in the door with its spot Bitcoin ETF application, thereby triggering a major euphoria in the crypto market. “An approval would profoundly impact the market structure of Bitcoin, as it would reduce the barriers for financial advisers to offer exposure” to the token, Vetle Lunde, senior analyst at K33 Research, wrote in a note.
Cathie Wood, the CEO and chief investment officer of ARK Invest, provided insights into why the firm is optimistic about the price of Bitcoin and has set a target of $1 million. Wood believes that Bitcoin has the potential to outperform even in a deflationary environment due to its ability to address the counterparty risk associated with the traditional financial system.
#opbnb #crypto2023
$BTC $BNB
The world’s largest cryptocurrency Bitcoin (BTC) is poised for the strongest weekly close after March this year, amid a flurry of applications for spot #bitcoinETF from some of the largest financial institutions in the world.
Bitcoin is currently flirting around $30,000 levels after making strong gains earlier this week. As of press time, BTC is trading at $30,015 with a market cap of $582 billion.
#BlackRock has put its foot in the door with its spot Bitcoin ETF application, thereby triggering a major euphoria in the crypto market. “An approval would profoundly impact the market structure of Bitcoin, as it would reduce the barriers for financial advisers to offer exposure” to the token, Vetle Lunde, senior analyst at K33 Research, wrote in a note.
Cathie Wood, the CEO and chief investment officer of ARK Invest, provided insights into why the firm is optimistic about the price of Bitcoin and has set a target of $1 million. Wood believes that Bitcoin has the potential to outperform even in a deflationary environment due to its ability to address the counterparty risk associated with the traditional financial system.
#opbnb #crypto2023
$BTC $BNB
Bought the rumor, indecisive on the coming news.
My Tuesday longs are already printing. Wednesday is unpredictable.
Let me know your opinion for wednesday's BTC futures.
One thing I know for sure, SEC is will not approve any ETFs on Wednesday. But they might be some progressive news to keep the bullish momentum.
Don't #fomo
Just #dyor
#bitcoinETF
Wednesday's BTC futures?
My Tuesday longs are already printing. Wednesday is unpredictable.
Let me know your opinion for wednesday's BTC futures.
One thing I know for sure, SEC is will not approve any ETFs on Wednesday. But they might be some progressive news to keep the bullish momentum.
Don't #fomo
Just #dyor
#bitcoinETF
Wednesday's BTC futures?
Long
100%
Short
0%
4 ψήφοι • Η ψηφοφορία ολοκληρώθηκε
The spot Bitcoin ETF will be different that the Bitcoin ETNs launched before with shareholders owning a portion of fund's underlying assets.#bitcoin #bitcoinETF
