Bitcoin is dumping after ETF approval?

[Power420]

Reasons Why Bitcoin is Dumping after
the historic spot ETF approval -

1) There was a strong speculation
leading towards the ETF approval,
now it’s approved people doesn’t
have anything to speculate on and
many expected it to pump towards
$55k after approval coz that didn’t
happen people are just taking profits
or selling in disappointment.

2) Bitcoin pumped from the Bottom
of $15,400 to $49,000 with fomo
elements of ETF so the correction
was naturally due and this might be
sell thenews event for many who
bought bitcoin earlier below $20k.

3) Money is moving from Bitcoin to
ETH now. People are selling BTC and
buying ETH coz they know ETH spot
ETF is coming next and ETH haven’t
really pumped yet so they are moving
to undervalued asset.

Positives people are missing -

1) Bitcoin ETF in total did a $4.3 Billion
In volume which is historical for any
ETF in history.

2) Now Bitcoin is available you all the
Wall Street guy. So Over time trillions
will flow into market

3) Bitcoin ETF puts a trust in crypto.

My personal opinion - Bitcoin ETF will
become more popular in Wall Street
and we will see companies allocating
billions to Bitcoin over time which will
send BTC to $100k - $200k+ easily.
So hold tight and be patient.
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[Ambatman]

Because bullish is still long, maybe it will happen at the next year.

We already in a bullish trend is last year. The correction like everyone has said is normal. I even consider it an opportunity to buy. After the corrections then recovery will be better than the dip that's how it always is. Fall, accumulate strength and shoot for an higher price.

[Z-tight]

I don't think this can be called a dump, it is just a small correction. As soon as the BTC spot etf in the u.s. was approved, so many people thought that BTC was going to start pumping immediately and that by now we would be well above $50k, but the BTC market does not work like that, we usually see effects of big events like this after some months.

Take the BTC halving for example, BTC does not start pumping right after the halving, the bull run comes few months after the halving, and i think that is going to be the situation with spot etf approval.

[taufik123]

I don't think this can be called a dump, it is just a small correction. As soon as the BTC spot etf in the u.s. was approved, so many people thought that BTC was going to start pumping immediately and that by now we would be well above $50k, but the BTC market does not work like that, we usually see effects of big events like this after some months.
-snip-

You may believe with the term "Lowing To Rise", Bitcoin will not always rise and there are times when the market has to experience a correction.
It aims to make the Bitcoin market healthier, and the decline aims to gather fuel to go to higher peaks.

People will panic about this situation, but those who already understand will take advantage of this correction opportunity for buybacks, so that more Bitcoin will be held at low prices and sell them when FOMO ATH has arrived.

[debra]

I'm also a bit surprised to see Bitcoin dumping after Bitcoin ETF is approved. Everyone must guess Bitcoin price will increase significantly when Bitcoin ETF is approved because it is clearly very positive news. However, we can see that the Bitcoin price have reached around $48k after the good news spreading. Now, Bitcoin price needs time for correction to prepare the chance for the next pump. I'm sure there will be pump in the next few days or weeks. But It won't suddenly happen, it requires a process. The market needs time to consolidate, this is necessary for a much higher price increase later.

So, we mustn't feel afraid to see the current dump in Bitcoin price. As long as Bitcoin price can survive above $40k, I think everything is normal. This is also the advantage for the people who still have the intention to have more Bitcoin, they will have enough time to buy more Bitcoin.

[bounceback]

Seems like Bitcoin and the whole market is in Blood days now day after that ETF approval , is this something to be alarm for? or just another Correction that we have had before the approval?

Am not worrying of anything but just curious to what had happened today?

Its one thing make my position dilemma what happen with bitcoin price drastically dumping after ETF approval? are there any drama behind ETF approval but bitcoin price can't stable and raise to higher price? I believe with bitcoin always in correction position but drop drastically more than 10% in short term can't acceptable first time after ETF approval announcing bitcoin success break until $47k but without two days bitcoin dumping to most lowest price under $41,500.
Hope with bitcoin recovery to higher price in short time and make us on comfortable position after ETF approval bitcoin must on higher price exactly without 100 days will have bitcoin halving time.

[ajiz138]

There is no need to be wary because this is just a normal correction I will take it as such there may be a big dump after the approval but I don't read the news in detail because I know behind all that there must be negative news coming out.

I am not worried about bitcoin going down after the approval, because I know that I will not take action to sell unless I continue to buy, if you continue to pay attention to the news maybe it will be a little anxious fearing that the price will drop worse, but it should be utilized by buying when the price drops.

[alltalk]

We already in a bullish trend is last year. The correction like everyone has said is normal. I even consider it an opportunity to buy. After the corrections then recovery will be better than the dip that's how it always is. Fall, accumulate strength and shoot for an higher price.

I don't think we were in the bullish trend in 2023. If we considers 4 years cycle, 2022-2023 is the bearish season. We will have the bullish season in 2024-2025. Also, we can see the price of Bitcoin still can reach the last ATH, it is still below $45k now. Another reason is the Bitcoin halving doesn't start yet, it is the trigger for the bullish season. However, I agree that in the early of 2024, we seem to begin the bullish season soon. 

Yes, we can buy as many as possible before the Bitcoin price recovers.

[Nwada001]

I'm not surprised with how the price of bitcoin turned sideways just after the ETF approval. Altcoins seem to take advantage of the news a few minutes after the announcement, as many altcoins like Ethereum saw a rise of about 9% from their initial price before the ETF approval.
 
Like I said on the other forum regarding this earlier,  there could be some higher possibility that we might likely see a price dump after this approval, as many investors will like to sell and take profit as a result of them taking advantage of the market trend, which might likely lead to a market drop, or there could also be a possibility of a price jump due to the large purchases that will come after the approval from those stock traders, but it's not a surprise that the market took the first turn.

[aiviaa485]

As I would say, because after there is Good News there must be Bad News, Bitcoin ETF is Good News and this will increase the price of Bitcoin.
But after the Bitcoin ETF is listed, the results will change and Bitcoin will return to its original price or return to the price at which Bitcoin rose when the Bitcoin ETF news was received.
This cycle continues to spin until now since Bitcoin first started trading in various markets, maybe because of my experience or because I thought negatively because after seeing this Bitcoin ETF I already guessed that the price would go down.
Maybe I also have a "Time Traveler" like in a cartoon who can predict the future for Bitcoin prices. 

[bitbit97]

I hope this pricededuction is temporary and the perioud would be really short. It was made on purpose to earn on those who wanted to “last minute jump in hype train”, that were abou to surpass to $50k milestone to way to ath. Somehow that price reduction was expected, people always earn on those who rush in taking decisions. However, the drop below $43k (that was rocket starting point) is disappointing. I have expected more resistance.

[Thyplaymaker]

I don't think there's any need for panicking to me bitcoin just undergoing some corrections, and gathering strength to surge higher you can't just expect the news to just skyrocket it's to the new ATH ones nah. My advice I have don't sell yah holding due to panick because there's nothing you should be panicking about don't forget is bitcoin we talking about so keep hodl.

[bayu7adi]

Wait and see, my friend. We're all gearing up for the upcoming halving in a few months, and it's inevitable. Maybe ETFs haven't yielded positive results for you, but your feelings might be misleading. Market responses can come at unexpected times, so it's better to monitor first and not rush into decisions, except perhaps the decision to buy more.

I also anticipate a bull run if the ETF gets approved, but if the prices move in the opposite direction, I won't hastily sell my BTC. Stay calm and keep an eye on the market for some time ahead.

[Litzki1990]

It is very normal for sales prices to rise or fall, so pumping and dumping cannot be attributed to one particular factor alone.  Before this, I have seen Bitcoin market dumping for no reason and then pumping again after dumping for some time. If there is no volatility in the bitcoin market then the amount of investment in bitcoin will be less, people are buying and selling that is why the price of bitcoin is constantly rising. If the price of a bitcoin falls some more than what it is now, we have to accept that it is temporary dumping and the market will pump again soon.

[bitterguy28]

Well it has been said that it is normal to see dumping now because of over expectations to the market movement while those  institution that given the rights to purchase and own bitcoin are still waiting for the right timing so expect this stranded increase for a while or this may take long as the Halving is months before coming and we knew the effect to the market over the years.
that the prices really dumps in this kind of time so be ready to purchase more than selling guys because this is our opportunity to take advantage of the situation .