[We got BTC Spot ETF] We are waiting for big news about BTC Spot ETF

[MrSpasybo]

We are going through an extremely important week: it is expected that this week, information about the fate of BTC Spot ETF will be announced. This could be an important event in the history of Bitcoin, when Bitcoin will be accepted by major funds in US, the largest economy in the world.

Similar to what happened with the Gold Spot ETF: after it was approved, gold prices rose sharply for many years.

I expect that this will also happen with BTC price once the BTC Spot ETF is approved.

Some analysts say that there is still a possibility that  BTC Spot ETF will be delayed until March by SEC to limit investor FOMO right now, and this could be the reason why BTC price corrected after many months of recovery. Very good costume from $15K to $45K.

Personally, I believe that BTC Spot ETF will be approved, simply because SEC does not dare to confront large funds like BlackRock or Fidelity in court. SEC also recently published a post reminding investors not to get too FOMO into crypto. It sounds like it's their "denial".

The deadline for SEC to announce the final decision is approaching, what is your assessment of the possibility that BTC Spot ETF will be approved? Do you think its impact on the crypto market will be positive or negative?

[MrSpasybo]

UPDATE: SEC Aaproves the 1st BTC spot ETF in US 🚀🚀🚀

SEC has finally approved BTC Spot ETF in US, a major milestone for our crypto market. This decision comes after years of denials and it is expected to have a significant impact on market: increased institutional investment in BTC and could help to legitimize BTC as a mainstream asset class^[1].

Congratulations BTC and crypto community. Finally, after 10 years, we have BTC Spot ETF and BTC escapes the "scam" accusations from many investors in traditional market. A new era has opened!

I think it's time for us to wait for ETH Spot ETF and XRP Spot ETF 
[1] Spot Bitcoin ETF receives official approval from the SEC

[CryptoLaila]

Can you provide  the direct  link because I've checked their site and even other urls seem working  but I checked the blog you and the status as at the time of the blog update was 404 which mean that particular page is down ....

[MrSpasybo]

Can you provide  the direct  link because I've checked their site and even other urls seem working  but I checked the blog you and the status as at the time of the blog update was 404 which mean that particular page is down ....

Please check links:
Cointelegraph: https://cointelegraph.com/news/sec-spot-bitcoin-etf-approvals
CoinDesk: https://www.coindesk.com/business/2024/01/10/bitcoin-etfs-win-sec-approval-bringing-easier-access-to-biggest-cryptocurrency/
Decrypt: https://decrypt.co/210763/bitcoin-etf-approved-sec
BeInCrypto: https://beincrypto.com/bitcoin-etf-approved-sec/
TheBlock: https://www.theblock.co/post/271324/the-sec-said-it-has-approved-proposals-for-spot-bitcoin-etfs-on-an-accelerated-basis
TheDefiant: https://thedefiant.io/sec-approves-spot-bitcoin-etfs-in-historic-decision
cryptoslate: https://cryptoslate.com/sec-approves-spot-bitcoin-etfs-after-11-years-of-rejections/

[CryptoLaila]

Can you provide  the direct  link because I've checked their site and even other urls seem working  but I checked the blog you and the status as at the time of the blog update was 404 which mean that particular page is down ....

Please check links:
Cointelegraph: https://cointelegraph.com/news/sec-spot-bitcoin-etf-approvals
CoinDesk: https://www.coindesk.com/business/2024/01/10/bitcoin-etfs-win-sec-approval-bringing-easier-access-to-biggest-cryptocurrency/
Utoday: https://no link shorteningday/breaking-sec-officially-approves-spot-bitcoin-etfs-btc-price-unfazed
Decrypt: https://decrypt.co/210763/bitcoin-etf-approved-sec
BeInCrypto: https://beincrypto.com/bitcoin-etf-approved-sec/
TheBlock: https://www.theblock.co/post/271324/the-sec-said-it-has-approved-proposals-for-spot-bitcoin-etfs-on-an-accelerated-basis
TheDefiant: https://thedefiant.io/sec-approves-spot-bitcoin-etfs-in-historic-decision
cryptoslate: https://cryptoslate.com/sec-approves-spot-bitcoin-etfs-after-11-years-of-rejections/

Okay going through it now, you might need to check any space disruption in the third link

[Aanuoluwatofunmi]

Now that approval has been made, what next inline for move, is this going to triggers the market price more higher or there is not going to be something we should expect for now, it seems that so many of the altcoins markets and bitcoin altogether we're rising a d pumping, this may be a season of high volatility when what we expect is what we are seing and we must therefore be very careful in our investment in other not to miss out any opportunity meant for us to take in at the cause of this period.

[CryptoLaila]

Now that approval has been made, what next inline for move, is this going to triggers the market price more higher or there is not going to be something we should expect for now, it seems that so many of the altcoins markets and bitcoin altogether we're rising a d pumping, this may be a season of high volatility when what we expect is what we are seing and we must therefore be very careful in our investment in other not to miss out any opportunity meant for us to take in at the cause of this period.

You can go through  the link to understand  more about the SEC ETF approval  , although  I'm still yet to believe  the ETF  trading  has started actually  but with the current  news there should  be an increase  in FOMO by people  trying  to invest  and this could really pump the market but there're  still more dips to be experienced

[yhiaali3]

Very big news, congratulations to the Bitcoin community on the approval that everyone has been waiting for for many months.

Now the BTC Spot ETF has been officially approved in the United States and this event is expected to have a significant positive impact on the market.

The strange thing that I noticed is that when the fake news was published on the X platform yesterday, there was a great reaction in the market and the price of Bitcoin rose within a few hours, while now after the official news was published we notice that the price of Bitcoin is still the same.

[JoyMarsha]

Now that approval has been made, what next inline for move, is this going to triggers the market price more higher or there is not going to be something we should expect for now, it seems that so many of the altcoins markets and bitcoin altogether we're rising a d pumping, this may be a season of high volatility when what we expect is what we are seing and we must therefore be very careful in our investment in other not to miss out any opportunity meant for us to take in at the cause of this period.

You can go through  the link to understand  more about the SEC ETF approval  , although  I'm still yet to believe  the ETF  trading  has started actually  but with the current  news there should  be an increase  in FOMO by people  trying  to invest  and this could really pump the market but there're  still more dips to be experienced

With the approval of Bitcoin ETF, many crypto investors would invest because of that and they will be caught up with FOMO, making them invest in bitcoin at a high price. Anyway, whatever high price someone bought bitcoin at, before the halving season, he would surely end up being on profits during the bull run. So cause of alarm whether we later experience a dip market towards bitcoin price this year.

The best course at this moment is to use the DCA strategy because none of us knows what the new ATH of bitcoin would be "skyrocketing above $100k" as always speculated by crypto analysts.

The crypto market looks so greenish with this bitcoin ETF approval. $50k of bitcoin price is easy to come by at this time

[MrSpasybo]

Okay going through it now, you might need to check any space disruption in the third link

Thank you, Utoday's link structure looks quite similar to a link shortening service so the forum is a bit confused. Hope the other links have provided enough information about BTC Spot ETF for you.

Very big news, congratulations to the Bitcoin community on the approval that everyone has been waiting for for many months.

Now the BTC Spot ETF has been officially approved in the United States and this event is expected to have a significant positive impact on the market.

The strange thing that I noticed is that when the fake news was published on the X platform yesterday, there was a great reaction in the market and the price of Bitcoin rose within a few hours, while now after the official news was published we notice that the price of Bitcoin is still the same.

Today BTC almost touched $49K, which is really impressive. However, the positivity has not been proven as the price is fluctuating very strongly, and dropped to $45.5K. We have both sellers and buyers. The battle between Sell-the-news and FOMO is going on ^^

At least, we are seeing very big BTC Spot ETF trading volumes, reaffirming the appetite for investment in BTC from traditional investors ❤️❤️❤️

Over $3.5 billion worth of shares have traded between the 11 US spot Bitcoin exchange-traded funds as of 1 p.m. in New York on Thursday. The Grayscale Bitcoin Trust, which converted into an ETF, has seen about $1.7 billion in volume, according to data compiled by Bloomberg. Meantime, BlackRock’s iShares Bitcoin Trust—IBIT— has seen over $880 million change hands.[1]

The best course at this moment is to use the DCA strategy because none of us knows what the new ATH of bitcoin would be "skyrocketing above $100k" as always speculated by crypto analysts.

The crypto market looks so greenish with this bitcoin ETF approval. $50k of bitcoin price is easy to come by at this time

In the long term, BTC Spot ETF is expected to create important momentum for crypto market to grow in 2024 and 2025. DCA is an effective and safe strategy, we will keep our sanity and clarity. to make the right decisions in this market 💪💪💪
[1] Bitcoin ETF Trading Volumes Top $3 Billion in First Day

[CryptoLaila]

Thank you, Utoday's link structure looks quite similar to a link shortening service so the forum is a bit confused. Hope the other links have provided enough information about BTC Spot ETF for you.

Yeah it did and finally the it feels so good to hear the news

Over $3.5 billion worth of shares have traded between the 11 US spot Bitcoin exchange-traded funds as of 1 p.m. in New York on Thursday. The Grayscale Bitcoin Trust, which converted into an ETF, has seen about $1.7 billion in volume, according to data compiled by Bloomberg. Meantime, BlackRock’s iShares Bitcoin Trust—IBIT— has seen over $880 million change hands.[1]

We are still expecting  more larger volume trades

[1] Bitcoin ETF Trading Volumes Top $3 Billion in First Day

just in a day of approval , this should also encourage  more investors

[MrSpasybo]

We are still expecting  more larger volume trades
just in a day of approval , this should also encourage  more investors

Traditional investors' demand for investing in BTC has been confirmed, and it is truly huge. This will help support future BTC price increases.
But in the short term, what is happening with BTC price chart?  I see BTC has encountered strong resistance at $49K area, maybe someone is selling to take profits ^^

[Fenix]

We are still expecting  more larger volume trades
just in a day of approval , this should also encourage  more investors

Traditional investors' demand for investing in BTC has been confirmed, and it is truly huge. This will help support future BTC price increases.
But in the short term, what is happening with BTC price chart?  I see BTC has encountered strong resistance at $49K area, maybe someone is selling to take profits ^^

Indeed, after Bitcoin's price rose to $49,000 immediately after the ETF was approved, we now see the price drop to the current $45,822. A price correction in the cryptocurrency market is inevitable. Many people want to lock in their profits. They even predict that the price of Bitcoin could fall by 30 percent. What will happen next will be shown by events in the near future.

[electronicash]

We are still expecting  more larger volume trades
just in a day of approval , this should also encourage  more investors

Traditional investors' demand for investing in BTC has been confirmed, and it is truly huge. This will help support future BTC price increases.
But in the short term, what is happening with BTC price chart?  I see BTC has encountered strong resistance at $49K area, maybe someone is selling to take profits ^^

Indeed, after Bitcoin's price rose to $49,000 immediately after the ETF was approved, we now see the price drop to the current $45,822. A price correction in the cryptocurrency market is inevitable. Many people want to lock in their profits. They even predict that the price of Bitcoin could fall by 30 percent. What will happen next will be shown by events in the near future.

traders expecting a dump will happen though.  lot will be taking profit if the price continues to touch even at $45k.  SEC didn't approved ETF to a better time but right when the market is already overbought. anyone who will be buying now will burned themselves.

if base on the chart i could say the price may dip to $38k or if it goes worse $32k as the next support line. that's when the institutions are going to buy massively to hit $50k. i guess its time to wait for now.

[Uruhara]

traders expecting a dump will happen though.  lot will be taking profit if the price continues to touch even at $45k.  SEC didn't approved ETF to a better time but right when the market is already overbought. anyone who will be buying now will burned themselves.

if base on the chart i could say the price may dip to $38k or if it goes worse $32k as the next support line. that's when the institutions are going to buy massively to hit $50k. i guess its time to wait for now.

Well maybe that's what's happening. And it's possible that the price will move as you say. But I personally see that the price bounce will probably happen again from 43 or 44. But whatever it is, I actually don't really care about it. Because I will only start accumulating again if the price goes down again. Because the long-term investment journey is definitely ready with graphic twists and turns that will continue to occur. Even now Bitcoin has fallen to 45250. And yes, this is a little surprising. But this decline is similar to a liquid hunter that targets future traders who have long positions and are starting to get liquidated at the current price. And yes, currently the number of future traders being liquidated is very large. And perhaps for some people today's drop in bitcoin completely crushed the hopes of those who expected btc to fly after the announcement of bitcoin etf acceptance.