Analysts foresee differing scenarios for Bitcoin's reaction. ๐ค ๐ฐ A recent false ETF news flash gave Bitcoin a glimpse of the future. The price surged 7% to $30,000 in minutes, highlighting the market's anticipation. ๐ K33 Research suggests a potential ETF approval could overshadow previous rallies. A rejection, on the other hand, might lead to a market downturn.
๐ง Alex Krรผger emphasizes that the approval isn't fully priced in, predicting a significant move of +20% on approval.
๐ However, some, like Joe Consorti and Nik Bhatia, consider the recent rally a "measly pump" and believe much of the ETF's potential impact is already reflected in Bitcoin's price.
๐ฅ The spot BTC ETF remains a hot topic, with market participants eagerly awaiting the official announcement.
๐ฎ Will it be a "sell the news" event, with prices rising before settling down after approval? Only time will tell! ๐
๐ Trade Smart ๐ช
