Foresight News reports that Bitget CEO Gracy Chen stated in an interview with Bloomberg TV that Bitcoin is fluctuating around the $100,000 mark, reflecting a strong short-term 'arbitrage' sentiment in the market. She pointed out that particularly some whale users who started accumulating positions since 2022 have an average holding cost of only about $20,000. Although future cryptocurrency regulations in the U.S. may trend towards being more lenient, the related uncertainties remain significant considerations for investors, leading some to choose to cash out at current price levels.
At the same time, Bitcoin's recent performance has provided more opportunities for altcoins. However, regarding the rumors circulating in the market about 'DOGE, SOL, and other altcoin ETFs possibly being approved soon', she believes there are still multiple challenges: first, the order of approval; based on the experience of Bitcoin and Ethereum ETFs being approved, the mainstream market typically first approves futures ETFs, followed by spot ETFs of related assets, and none of these altcoin futures ETFs have yet been approved; second, regulatory discrepancies, as some regulatory bodies still dispute whether tokens like SOL are considered securities, which could affect the related approval process; third, market manipulation risks, as most altcoins are not as decentralized as BTC and ETH, making the possibility of market manipulation relatively higher.
