Approval of spot Bitcoin ETFs could turn into a “sell the news” event, according to analysts.
Bitcoin price $40,000 level exceeds, many short-term investors unrealized kar Level increased.
In the analysis made by CryptoQuant, “Short-term Bitcoin holders are before price corrections as is, up to 30% unrealized kar “They see.” It was said.
Analysts, miners’ unrealized profitarof He also pointed out that the rates were high. In the report, “We are seeing increased miner sales as prices have been hovering above $40,000 for the last few weeks.” It was said.
According to the CryptoQuant report, Bitcoin price fluctuates during bull market periods. short-term investors’ purchase price It can see as many corrections as If the Bitcoin ETF turns into a “sell the news” event, the price will It could drop up to $32,000 warning was given.
Bloomberg Intelligence analysts rate the likelihood of the U.S. Securities and Exchange Commission (SEC) approving a spot Bitcoin ETF in the first quarter of 2024 at 90%.