Reasons Why Bitcoin is Dumping after
the historic spot ETF approval -
1) There was a strong speculation
leading towards the ETF approval,
now it’s approved people doesn’t
have anything to speculate on and
many expected it to pump towards
$55k after approval coz that didn’t
happen people are just taking profits
or selling in disappointment.
2) Bitcoin pumped from the Bottom
of $15,400 to $49,000 with fomo
elements of ETF so the correction
was naturally due and this might be
sell the news event for many who
bought bitcoin earlier below $20k.
3) Money is moving from Bitcoin to
ETH now. People are selling BTC and
buying ETH coz they know ETH spot
ETF is coming next and ETH haven’t
really pumped yet so they are moving
to undervalued asset.
Positives people are missing -
1) Bitcoin ETF in total did a $4.3 Billion
In volume which is historical for any
ETF in history.
2) Now Bitcoin is available you all the
Wall Street guy. So Over time trillions
will flow into market
3) Bitcoin ETF puts a trust in crypto.
My personal opinion - Bitcoin ETF will
become more popular in Wall Street
and we will see companies allocating
billions to Bitcoin over time which will
send BTC to $100k - $200k+ easily.
So hold tight and be patient.
Please Like and Follow if you found
this summary helpful.
