On December 4, PANews reported that Bitget CEO Gracy Chen was invited to attend an interview with Bloomberg TV. In the interview, Gracy mentioned that Bitcoin is fluctuating around the $100,000 mark, reflecting strong short-term 'arbitrage' sentiment in the market. She pointed out that particularly some whale users who started accumulating positions in 2022 have an average holding cost of only about $20,000. Although the future cryptocurrency regulation in the U.S. may become more lenient, the related uncertainty remains an important consideration for investors, and some investors choose to cash out at the current price levels.
At the same time, Bitcoin's recent performance has provided more opportunities for altcoins. However, regarding the circulated news that 'ETFs for altcoins like DOGE and SOL may be approved soon', she believes there are still multiple challenges: First, the order of approvals; based on the experience of Bitcoin and Ethereum ETFs being approved, the mainstream market usually approves futures ETFs first, followed by spot ETFs for related assets, and the futures ETFs for these altcoins have yet to be approved. Second, regulatory disputes; some regulatory agencies still dispute whether tokens like SOL are considered securities, which may affect the approval process. Third, the risk of market manipulation; most altcoins are not as decentralized as BTC and ETH, making the possibility of market manipulation relatively higher.
