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Bitcoin Forum / Re: Bitcoin Slips Under $62K as Hong Kong ETFs Disappoint
« Last post by TomPluz on Today at 01:11:50 PM »So far, it is quite clear that ETFs for Bitcoin in any other country than USA failed to really make the market moves for BTC. Even before the approval and operation of ETFs in USA, there were already other countries that started their own ETFs but just like the recently opened Hong Kong market, they are not considered to be big players in the market all because of minuscule business volume, unlike the one we witnessed in USA. What is clear to me right now is that ETFs in USA is now becoming a major direct influencer for the price of Bitcoin in the global market and we can see how it can be affecting the asset in the next many years...where its ups and downs are inextricably linked to each other. Will there are those who assumed that ETFs in Hong Kong can be of big help for Bitcoin in terms of pushing demand, what happened is the opposite where its lackluster performance somewhat contribute to further weakening of the price of Bitcoin.