What Happens to Bitcoin Price if Spot ETF Isn’t Approved?

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Bitcoin's recent strong performance at least in part is due to optimism regarding the imminent launch of multiple spot ETF products.

It's not surprising that analysts expect to see negative short-term price action if a bitcoin spot ETF is rejected by the SEC.

Analysts, however, pointed out that bitcoin certainly doesn't hinge its existence on an ETF.

While markets appear to have fully embraced the idea that the U.S. Securities and Exchange Commission (SEC) will approve a spot bitcoin ETF (timing unclear), it's worth considering the chance of continued rejections and what that might mean for the price of the crypto.