Selling Pressure After Bitcoin ETF Approval?
BlackRock and other major players are pushing for the approval of the first spot Bitcoin ETF, which is expected to happen between January 8 and 10. However, there is a strong debate within the crypto community that the approval could lead to a sell-off. Analysts predict a 75% chance of a sell-the-news scenario, as traders are heavily exposed ahead of the verdict and there are indications of market froth, such as a surge in futures premiums and increasing long exposure from institutional participants.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
1inch reveals new cross-chain swap feature
Bitget announcement: Removal of VGXUSDT trading pairs from Futures Trading Bots
Bitget Futures Trading Bots will remove the following pairs on September 26, 2024, 15:00 (UTC+8) to provide a better user trading experience: VGXUSDT Notes: Users should close the relevant orders in advance if they hold strategy orders in these trading pairs. The release and purchase features of th
Bitcoin stagnation hints at potential volatility as demand decreases
Peter Schiff warns Fed’s rate cut will lead to economic collapse