K33 Research analyst Vetle Lunde stated that if spot Bitcoin exchange-traded fund (ETF) approval comes, there will likely be a “sell the news” situation in the cryptocurrency market.
Analyst Vetle Lunde made a remarkable statement regarding spot Bitcoin ETF applications. US Securities and Exchange Commission (SEC) The experienced name stated that if the ETF applications in question are approved, there will most likely be a sales wave. already priced he stated.
While emphasizing that the cryptocurrency market has bought the ETF expectation and everything has risen, especially in the last 3 months 75% chance He predicted that news of the approval would sell. on the other hand 20% Lunde said that the market may rise further in case of spot Bitcoin ETF approval. 5% chance He also commented on the possibility of the ETF being rejected.
Vetle Lundebuy the expectation, sell the news” situation may create a sales wave with spot Bitcoin ETF approval as a self-fulfilling prophecy. most likely scenario He did not hesitate to describe it as:
It all points to traders having significant exposure ahead of the decision, with derivatives pushing for huge premiums following Bitcoin’s sustained upward momentum over the past three months. A news selling event can become a self-fulfilling prophecy, as a significant portion of short-term market participants see this event as an area to profit.