Smart Money' is Record Long on BTC Ahead of Expected Bitcoin ETF
Data tracking website MacroMicro's bitcoin futures smart money index rose to a record 13,711 last week.
The record bias for bullish long positions comes days ahead of the SEC's impending decision on spot ETF applications.
Some obsevers foresee a classic "sell the news" price action following the ETF launch.
Smart money, or capital investments from institutional investors and knowledgeable market participants, is piling into bitcoin [BTC] as the U.S. Securities and Exchange Commission's (SEC) deadline to approve a spot BTC exchange-traded fund (ETF) nears. The smart money index rose to 13,711 last week, surpassing the previous peak of 13,603 to signal record net bullish
