Hong Kong likely to approve spot Bitcoin ETFs Hong Kong rep | Msplash on Binance Square

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Hong Kong likely to approve spot Bitcoin ETFs
Hong Kong reportedly expected to approve some ETFs next week and others in April.
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JUST IN: 🇭🇰 Hong Kong approves spot Bitcoin & Ethereum ETF application. now is your opportunity to join money heist token private sale. the vision and mission of this team are brilliant and i know your investment in this new token will yield returns. invest your money wisely while we prepare for the BTC halving season. future millionaire will be born this season. Join $MHT on Telegram @MONEYHEISTTOKENPORTAL website: http://money-heist-token.site.xyz/ #loveissharing

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Is the Crypto Market Falling Today? April has witnessed another crypto market crash instead of entering into pre-halving price surge spirits. What's coming next? Many crypto assets faced volatility issues recently, leading to the crypto market heatmap dominated by red. It has not happened for the first time, as with the start of the second quarter of 2024, the crypto market is going through major price fluctuations and volatility issues. It demonstrates a market fall today where the cryptocurrencies are dipping. Many will be terrified of the market crash and might end up selling their crypto, initiating selling pressure. Why Is The Crypto Market Falling Today? Market volatility often leads to such price falls, crashing the crypto market. Reasons, like Market Sentiments and entering the correction zone, have been associated with this fall. Market Sentiments The fear and greed index data has shifted from yesterday’s score of 79 to 75, which is a shift from an almost too-greedy zone to a just greedy zone. It shows an increased selling pressure in the crypto market where the investors sell their cryptocurrencies instead of buying or HODL them. Though the current sentiment shift has not been that huge, but compared to the March data, the market is slow. Crypto Liquidation 99,403 crypto traders have been victims of liquidity in the last 24 hours. The total liquidation data contains $274.74 Million, and Bybit alone is responsible for the $8.38 Million in liquidations. Bitcoin, Ethereum, and Solana are the most affected cryptocurrencies by this liquidation. Market Correction Before Halving Bitcoin halving is just a few days away, and the mining rewards will be half after that. It will help with maintaining the scarcity of Bitcoin as the production will decrease, but this will impact the miners. The analysts have confirmed a Bitcoin correction before the halving events, which is happening right now. This correction might continue for a few days before entering the pre-halving price rally, followed by a long run post-halving. #loveissharing $BTC $ETH $SOL

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How Much Will Bitcoin’s Price Go Up After This Month’s Halving? The $1 trillion question: What will happen to Bitcoin’s price after halving? If history is our guide, not much. What did Bitcoin’s price do after the three previous halving events? In 2012, bitcoin’s price languished for more than a month. In 2016, its price dropped and took four months to get back to even. In 2020, its price stayed flat for two months. See for yourself: Don’t be surprised if we get a similar outcome this time. Typical operation To summarize a far more nuanced, complicated story: In 2024, we caught a massive bid. This round of speculative enthusiasm pushed Bitcoin’s price to a new all-time high. The market found itself overextended in a way we’ve never seen heading into a halving event. Today, there’s no reason to think this market can’t go a little higher for a little longer, simply on the momentum it’s built up for months. Stepping back from the day-to-day commotion, we’re still at extremes on many market metrics and overdue for a substantial correction. It all makes sense and fits historical patterns. I guess we’ll see whether these bids keep pouring in at the pace we’ve seen in the past two months. Otherwise, we could have a bumpy road ahead. But Mark, the ETFs! Those Wall Street ETFs have taken in $12 billion in new inflows. While that is a substantial accomplishment and certainly helpful, it can’t count for the $650 billion rise in Bitcoin’s market cap — even if you give the ETFs a generous multiplier effect. Anyway, how sure are you that Aunt Sally, Uncle Morton, and the pickleball crew haven’t already gotten their 1–3% allocation? If that’s the case, they have no reason to put more money into the ETFs. #loveissharing $BTC

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