SEC’s spot Bitcoin ETFWith rising optimism about the ratification of BTC And altcoins experienced a significant increase.
At this point, BTC rose above $35,000 for the first time since May 2022. CryptoQuant A new analysis came from the analyst.
Stating that short-term Bitcoin investors made profits on the rise to $ 35,000, the analyst said that after such situations, a horizontal or correction process usually follows in BTC.
Additionally, the analyst said that if approval for the spot Bitcoin ETF is not clarified, short-term movements from late October to early November are likely to be sideways or corrective.
“Bitcoin holders with a term of less than six months profited as BTC reached $35,000.
Such situations usually occur after a strong rise in a bull market and are always followed by a sideways or correction period.
Unless approval for a Bitcoin spot ETF is clarified, short-term movements from late October to early November are likely to be sideways or corrective. “
Bitcoin At the time of writing, it continues to be traded at $ 34,166.
Short-term holders realized profits.
“Such movements often occur after a strong rise in a bull market, each time followed by a sideways or correction period.”
by @DanCoinInvestorLink👇https://t.co/9gSJnrRfB5
— CryptoQuant.com (@cryptoquant_com) October 27, 2023
*This is not investment advice.
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