As the final decision for the spot Bitcoin exchange-traded fund (ETF) in the United States approaches, institutional investors’ investment in Bitcoin is growing.
Developed by MacroMicro and institutional investors opened at CME between long and short term Bitcoin positions reflecting the difference Futures Smart Money Index, to 13,711 rose and broke a record.
The index showing the positions of asset managers has been on the rise since the third quarter of the year, a bullish signal gave birth.
Bitcoin price rises with the impact of spot Bitcoin ETFs expected to be approved in 2024 and Fed interest rates expected to fall 62 percent increase in the last three months showed.
US Securities and Exchange Commission (SEC) regarding Bitcoin ETFs The last time he made a clear decision was on January 10. Waiting.
Some experts say that Bitcoin It may lose power as this date approaches. he thinks. In QCP Capital’s analysis, “As we finally approach the opening, the demand for the Bitcoin Spot ETF will market expectations We should point out that it is likely to remain below. This could create a classic ‘sell the news’ situation in the second week of January.” It was said.
QCP analysts say Bitcoin In the range of $45,000-$48,500 may encounter resistance and “It is possible that it will retreat to $36,000 before the rise continues” said that.
