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

[Faisal2202]

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 are right, I also did not expect this outcome as I thought when the ETFs were approved we would see a boom in the market and it would be sudden but I was shocked to see the price going down and down even after the ETFs had been approved. The price of BTC only goes up when trading on ETFs starts.

This made me realize that ETF trading is not open for 24/7 as it is institutional trading so they also take a leave, which will put impact on the trading on the basis of active hours. Or maybe I am taking this wrong, well, another funny thing is few companies had withdrew there ETF proposals maybe they fear the big opponent BlackRock or they had any other reasons, but this is not good for the market,

[BitMaxz]

You are right, I also did not expect this outcome as I thought when the ETFs were approved we would see a boom in the market and it would be sudden but I was shocked to see the price going down and down even after the ETFs had been approved. The price of BTC only goes up when trading on ETFs starts.

This made me realize that ETF trading is not open for 24/7 as it is institutional trading so they also take a leave, which will put impact on the trading on the basis of active hours. Or maybe I am taking this wrong, well, another funny thing is few companies had withdrew there ETF proposals maybe they fear the big opponent BlackRock or they had any other reasons, but this is not good for the market,

It seems that the good news about Bitcoin ETF has turned to a negative outcome on the BTC price instead of rising it suddenly dropped to $43k the recent price increase at $48k plus is just a signal that the price will drop but it has still had strong resistance at $43,250 there is still a possibility that the price will recover soon at $47k or beyond unless if the resistance level is broken if it happens we will see a huge decline on the price.

[Stompix]

but it has still had strong resistance at $43,250 there is still a possibility that the price will recover

Neah, unfortunately there is no depth volume at these levels, the top 5 exchnges barely have 50 million that's some 1000BTC in the 2% area.
Rather then resistance I see it more like reluctance to sell even lower, not that the outcome is not the same but, well, the nuance.

it seems that so many of the altcoins markets and bitcoin altogether we're rising a d pumping,

That should have been the first red flag for this red parade, altcoins going up faster then BTC when the money was supposed to go only in BTC was obviously stupid fomo or tentative of pump and dump.

Either way this next day crash is bad, no matter how you want to explain buy overbought sentiment, the fact that the approval was already priced in, that we have people taking profits what's certain for the average Joe is that right after the big day the price tanked more than 5% and this will put of many of those investors.
I'm genuinely interested in how volumes on Monday- Wednesday will look, this could go both ways but a drop in both volume and price even next week will be bad, no doubts on that.

[MrSpasybo]

Either way this next day crash is bad, no matter how you want to explain buy overbought sentiment, the fact that the approval was already priced in, that we have people taking profits what's certain for the average Joe is that right after the big day the price tanked more than 5% and this will put of many of those investors.
I'm genuinely interested in how volumes on Monday- Wednesday will look, this could go both ways but a drop in both volume and price even next week will be bad, no doubts on that.

The price action immediately following the BTC Spot ETF news was not as positive as I expected. BTC fell from $49K to $41.5K, about -15%, a harsh truth even for the most optimistic people. Nevertheless, high volatility has become a feature of this market, especially in the few days around important news.

I wait for this week's and next week's CLOSE before thinking BTC will reach $38.5K or worse $32.5K. For now, let the “sell-the-news” people do their work.

[tbct_mt2]

The price action immediately following the BTC Spot ETF news was not as positive as I expected. BTC fell from $49K to $41.5K, about -15%, a harsh truth even for the most optimistic people. Nevertheless, high volatility has become a feature of this market, especially in the few days around important news.

I wait for this week's and next week's CLOSE before thinking BTC will reach $38.5K or worse $32.5K. For now, let the “sell-the-news” people do their work.

Because people actually had strong belief that SEC. will approve Bitcoin Spot ETFs, which actually happened this week. With people who believed it, they already took advantage of uncertainty in the market to buy cheap bitcoins months ago. They already spent all capital for buying months ago and have no free capital to invest more.

With people who hesitated about Bitcoin Spot ETF approvals, some bought bitcoin with a hacked tweet from SEC and no longer have money to buy more now. Some will continue to doubt about Bitcoin future and they will need months or years to actually join the market.

With companies that won with Bitcoin Spot ETF applications, it takes them time to gradually buy bitcoin. They are smart enough to not spend massive capital to buy bitcoin on a single day and be a catalyst to pump Bitcoin price for other people to take profit.

[Stompix]

The price action immediately following the BTC Spot ETF news was not as positive as I expected. BTC fell from $49K to $41.5K, about -15%, a harsh truth even for the most optimistic people.

Damn I just wrote 5 lines for nothing, lol! 

I had to look there times at the number and I was wondering that the hell happened, I was just above talking about a wall at 43250 with BitMaxz saw that holding for hours at 43600 before going to sleep  I was looking now at the price and wasn't sure how you got 41.5 not realizing it's no longer 43 600 but 42 600 so we had another drop somewhere late yesterday (I'm running on CET (GMT+1) TIME.
So..damn!!!! Again!

It's not that I care about this -15%, we just a 100% up in a few months and we're still 103% YOY but this whole things is going to shatter a lot of confidence , especially now that the guy at Vanguard can point fingers and laugh how they've saved their clients 15%. Now the hope is a long term rebound after the initial stage, much like the Facebook IPO, the enthusiasm vanished in the first days, it dropped nearly 50% and despite all the pessimism and failures it's still now 879.57%, making it by far one of my luckiest contrarian pick ever!

Just as a warning, I'm one of the most pessimistic guys when it comes to price jumps, I have a perfect reputation on this build on BTT for years but I have a feeling we're going to have the same thing on the halving, too many have invested too much at lower price and are going to take quick profits, of course we will definitely hit a new ATH somewhere 2024-25 but this flop was a reality check!

I wait for this week's and next week's CLOSE before thinking BTC will reach $38.5K or worse $32.5K. For now, let the “sell-the-news” people do their work.

32.5k will be bad! Really bad! I'm watching revenue per th/s it's right now at 8 cents, 32k would move it close to 6, that's the point when Core entered chapter 11 last year, with 5 cents being the lowest point ever, contagion will spread from and that will again create more panic.
A slow months long decrease to 32k is manageable a dump to 32k in a week will be a bloodbath!

[BitMaxz]

I had to look there times at the number and I was wondering that the hell happened, I was just above talking about a wall at 43250 with BitMaxz saw that holding for hours at 43600 before going to sleep  I was looking now at the price and wasn't sure how you got 41.5 not realizing it's no longer 43 600 but 42 600 so we had another drop somewhere late yesterday (I'm running on CET (GMT+1) TIME.
So..damn!!!! Again!

It actually dropped at $41.5 you can see this price on the chart trading view or in Coinmarketcap if you set the line into candle stick in 1-minute intervals you will see the lowest price at 22:22 UTC it happened 10 hours ago.

I thought it would stay at that resistance level that I predicted recently but it dropped again and touched $41.5k in just a minute and went back to $42k. I don't see any other news that could impact this current bitcoin price but I heard miners are now selling their BTC however, the reason why they sell it is because they are going to buy new equipment before halving. I just heard it from social media comments and Cryptopanic.

[CryptoLaila]

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 ^^

Check a lower time frame  that point is really a strong  resistance or maybe I should say a region  because there has been several  reject around near  that region   its  obvious  that  there's been a profit made around 45 => to the target maybe by the whales

[Peter90]

It's not that I care about this -15%, we just a 100% up in a few months and we're still 103% YOY but this whole things is going to shatter a lot of confidence , especially now that the guy at Vanguard can point fingers and laugh how they've saved their clients 15%. Now the hope is a long term rebound after the initial stage, much like the Facebook IPO, the enthusiasm vanished in the first days, it dropped nearly 50% and despite all the pessimism and failures it's still now 879.57%, making it by far one of my luckiest contrarian pick ever!

When I read contrarian... I get interested 

A certain John Kim - don't know him - had predicted what is shocking now the cryptocommunity (kudos for him!).
I opened a thread on his contrarian stance about the impact of the ETF approval

Impact of the upcoming BTC ETF on the BTC price: A contrarian view



His theory was based on
a) what happened in October 2021 and following months when the ProShares Bitcoin Strategy ETF (BITO) launched and
b) on the fact that the banks were not positioning themselves as if they expected higher BTC prices following the ETF approval.


"I discussed the likely ongoing price spike higher in BTC prices that would follow the BITO launch and the very high likelihood that the bankers would then execute a carpet pull from November 2021 to January 2022, after luring the dumb money into the BTC market.

What do I expect after the spot BTC ETF launch?
For now, I’m not observing any banker positioning in the BTC markets that support any of the above ‘pundit” predictions

In fact, as of today, I haven’t encountered anything that would suggest BTC prices can move higher than the $50,000 to $55,000 range in January, even were the launch of a spot BTC ETF to bump BTC prices higher.
However, I would not expect any different outcome and trajectory than the one I predicted in the above podcast on the release date of the BTC BITO last 19 October 2021 - a temporary bump higher in prices of a magnitude impossible to predict at the current time, followed by a potentially really big crash.

Though I haven’t spotted any signs as of yet that a big crash is coming after the release of the spot BTC ETF, this is the typical banker Modus Operandi after releasing a BTC derivative product."


It looks like Mr. Kim was spot on 

[CryptoLaila]

Impact of the upcoming BTC ETF on the BTC price: A contrarian view

I saw this link fro a previous  thread I checked this morning, it didn't work but I think this works fine just saying  so u can review the previous link url

[NikeFit_7777]

Remember the news about China and the unlocking of cryptocurrency? Everyone was expecting a pampa and endless growth, and in the end nothing happened. Similarly with the (official) adoption of ETFs. Everyone believed in growth, yes, there was growth. But in the end, we were fooled once again. What's on the chart now is clearly not positive.

P.S. What do you expect in the short term from bitcoin? Don't forget to follow risk management. It's important! 

[Gurujebs]

Remember the news about China and the unlocking of cryptocurrency? Everyone was expecting a pampa and endless growth, and in the end nothing happened. Similarly with the (official) adoption of ETFs. Everyone believed in growth, yes, there was growth. But in the end, we were fooled once again. What's on the chart now is clearly not positive.

Gary Gensler is a snitch, how does he accept bitcoin and later says horrible stuffs about bitcoin, he doesn't knows that he is only privilege and the position he occupied today is only a political time frame, if another government take over US tomorrow he is going to be sack and another person will replace under some minutes and what will be left of him is the same bitcoin he is doing anyhow because Bitcoin is the only weapon people have that the government can't control.

P.S. What do you expect in the short term from bitcoin? Don't forget to follow risk management. It's important! 

This short term movement will soon fadeout as halving is going to be the next hope of the speculators and that is why Bitcoin is still trading at the top of $40k support. It wouldn't come down any soon but I think corrections will come after the halving.

[MrSpasybo]

Remember the news about China and the unlocking of cryptocurrency? Everyone was expecting a pampa and endless growth, and in the end nothing happened. Similarly with the (official) adoption of ETFs. Everyone believed in growth, yes, there was growth. But in the end, we were fooled once again. What's on the chart now is clearly not positive.

P.S. What do you expect in the short term from bitcoin? Don't forget to follow risk management. It's important! 

I believe that BTC and the crypto market do not depend on just one country. China has rejected the opportunity with crypto, but I believe they will soon accept because Hong Kong is joining the crypto wave.

Market Makers have more information about the market than investors: buying/selling volume, important price levels, market sentiment. They have ways to maximize their profits, of course by making most of the rest lose money.

Maybe we are seeing “sell-the-news”, I am not surprised by this. Regardless, the BTC Spot ETF will still be an important driver for the coming cycle.

My MSAP.Rainbow prediction has completed its jouney. This is my funny prediction at the moment. I hope I'm wrong and BTC will break $52K easily.

[Carbitcoin]

The race to become the first mover in the Bitcoin ETF market has attracted major players from both the worlds of traditional finance and cryptocurrencies. Black rock will play an exceptional role in this matter.

[Stompix]

I don't see any other news that could impact this current bitcoin price but I heard miners are now selling their BTC however, the reason why they sell it is because they are going to buy new equipment before halving. I just heard it from social media comments and Cryptopanic.

Cryptopanic? Lol, so you're supposed to keep your cool and DYOR on it ?
This mining thing makes little sense, I mean, why?
First you don't sell now to buy gear for the halving as Bitmain and Microbt are already full of orders, Mara has a delivery scheduled for Q3 2024!
Now, about getting ready for the halving, to make the same profits per th/s after it you need double the price, if you know this doubling in price would happen , why would you buy gear and not BTC, not even going into the thing of selling it for cash for gear for getting satoshi..

Let's take the s21, I'm not going for more efficiency but for lower th/$, cheap as hell kwh 4cents, no other costs (unicorn realms!).
That thing will burn $3.36 and will get you $16, assuming you have by delivery 60 days till having, you've made ~750, you have ~3200 to cover.
So if the price goes up immediately after the halving you still need half a year to ROI, assuming the others don't move in.
If the price jump happens 6 months after the halving then you have ~1000 and need another 4 months to cover till full ROI.
So why not buy Bitcoin now, store that with no incurring cost of expanding, months of pad wages and so on?

If you anticipate the price spike will happen fast then it makes no sense not buying Bitcoin now.
If you anticipate the halving not affecting the price immediately it makes no sense expanding and not well into it!

Anyhow this would be simple to validate or invalidate as a theory, all the big guys are listed on the stock exchange and will have to release their holdings, some in order to gain more trust and more investors do it monthly, some like core are forced to do since their are under chapter11, so we will probably see how much of it is true by early February but for me it would be a shock to be honest.