Bitcoin While moving sharply after yesterday’s fake ETF news, investors are wondering whether the price will drop further and Bitcoin’s reaction after ETFs receive real approval.
at this point QCP Capital An evaluation came from analysts.
Analysts say we are on the verge of spot Bitcoin ETF approval He stated that BTC’s initial reaction to the fake confirmation news was limited.
According to analysts, the first decline after fake news was suppressed due to BTC’s failure to break out of the resistance area.
“We see this situation, the suppression of the decline, as a warning sign that the ETF was mostly priced in before approval and there may not be a big rise after approval.
“Given that the decision deadline for Ark Invest’s ETF application expired today, January 10, and that the SEC has historically approved ETFs at the same time, there is a high likelihood of an announcement tonight.”
Analysts, who also explained the levels to be followed for Bitcoin, are looking for BTC in the coming period. support $40,000-$42,000; He said that the resistance is around $48,500.
Finally, touching on the Bitcoin options at the end of January, analysts argued that there may be a decrease in BTC depending on the options at the end of January. Analysts state that this decline could go up to $38,000. “Below $38,000 is a good level to take a long position in Bitcoin in anticipation of the halving in April.” said.
*This is not investment advice.
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