JUST

Bitcoin

Spot

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 <p>Bitcoin exchange-traded funds [ETFs] have become a significant point of interest. This week itself, <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>s attracted more than 7 million engagements. Despite high expectations for these products, the Securities and Exchange Commission [SEC] took a cautious stance, announcing postponements for the <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a> applications.</p> 
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    <p lang="en" dir="ltr">JUST IN: 🇺🇸 SEC delays decision for BlackRock's Spot #Bitcoin&nbsp;ETF.</p>— Watcher.Guru (@WatcherGuru) September 28, 2023 
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 <p>The regulatory body delayed BlackRock, Invesco, Bitwise, and Valkyrie’s Spot ETF applications, as indicated by documents published on its official website. Nevertheless, Bitcoin reached an impressive peak at $27,224 and has since maintained a similar level. The fourth quarter has been anticipated as a potentially favorable period for BTC. But the critical question remains whether Bitcoin can sustain its existing momentum.</p> 
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 <p><strong>Also Read: ARK’s Bitcoin Spot ETF Delayed Again Until January 2024</strong></p> 
 <h4 class="wp-block-heading" id="h-bitcoin-s-long-term-holders-continue-to-remain-positive">Bitcoin’s long-term holders continue to remain positive </h4> 
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 <p>Recent reports reveal that the proportion of BTC supply in the possession of long-term HODLers has reached an all-time high of 76.09%. This underscores the increasing confidence among long-term investors.</p> 
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    <p lang="en" dir="ltr">There it is — The percentage of Bitcoin supply held by long-term holders just officially reached its highest level ever at 76.09%. pic.twitter.com/D5SYBTmSm2</p>— Will Clemente (@WClementeIII) September 28, 2023 
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 <p>In addition to the rising count of long-term holders, there has been a record-breaking surge in the number of addresses possessing at least 1 BTC. Moreover, the number of BTC addresses classified as “sharks” and “whales,” which hold between 10 and 10,000 BTC, has reached its peak for 2023, accumulating a total of 13.03 million BTC.</p> 
 <p>Santiment has labeled it a bullish combination. It also indicated that these addresses view the current price range as an attractive entry point. A key contributing factor to this trend is the substantial anticipation surrounding <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>s. As the market undergoes an accumulation period, many are placing their bets on the upcoming months, anticipating a potential upward trend for BTC.</p> 
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 <p><strong>Also Read: Can Bitcoin Get Over Its ‘Bearish Blues’ In October?</strong></p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>bitcoin</li> 
  <li>Bitcoin ETF</li> 
  <li>btc</li> 
  <li>crypto</li> 
  <li>cryptocurrency</li> 
 </ul> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/positive-signs-for-bitcoin-going-into-q4-2023-post-etf-delays-tbt64457.html">https://thebittimes.com/positive-signs-for-bitcoin-going-into-q4-2023-post-etf-delays-tbt64457.html</a></p>

Positive Signs for Bitcoin Going Into Q4, 2023 Post ETF Delays

TheBitTimes

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