While some analysts think that spot Bitcoin exchange-traded fund (ETF) approval could push BTC above $100,000, others have suggested that this approval is already priced in.
Expectations for the approval of the Spot Bitcoin ETF have turned into one of the biggest expectations for the cryptocurrency market in recent times. Some market commentators say Bitcoin of ETF approval up to 100 thousand dollars While he thinks he can raise it, the attitude of others is more abstaining happened.
At the beginning of September, famous cryptocurrency influencer and investor Lark Davis announced that spot Bitcoin ETF approval that it could increase the price by 350% He was among those who thought the impact would be great, saying:
In another example, Chinese billionaire Jihan Wu’s cryptocurrency company matrixport, gold ETF approval by comparing Bitcoin with serious One rise He reported that it would trigger.
Could ETF approval already be priced in?
Joe Edwards, an analyst at blockchain security firm Enigma Securities, said that when ETF approval comes, it will only be a “news sell” and that the Bitcoin price will increase after confirmation. will crash soon he stated.
Analyst, Monday regarding spot Bitcoin ETF approval fake of the news short-term aftermath pump-dump There is no indication of how the market will react when there is a real confirmation of the move. It is a rehearsal He suggested:
The wild price action on fake ETF news serves as a timely reminder of what is likely to happen once a final decision is made on spot ETF applications.
Research firm speaking on the subject K33 Research Analysts stated that if approval comes, there will be a greater increase than the reaction to the fake approval. On the other hand, analysts warn that if spot Bitcoin ETF applications are rejected, There may be a serious decline expressed.
Co-founder of investment research firm Asgard Markets Alex Krüger While emphasizing that ETF approval will not radically change the course of the market, “After approval a 20% increase may come” said.
Authors of The Bitcoin Layer newsletter Joe Consorti And Nik Bhatiase spot Bitcoin ETF approvala stingy riseHe noted that he would bring it. Writing that Bitcoin will host a predictable rise as it did earlier in the day, the duo stated that Bitcoin is currently on the spot. ETF approval is priced in He claimed:
What we experienced was a completely ordinary intraday price increase for Bitcoin, as we would see on any Tuesday with a risky tone. This suggests that much of the fanfare and price increases created by the spot ETF approval have already been built into the Bitcoin price.