FOMO

Bitcoin ETF

Bitcoin

<div class="cryptonews">
 <p class="is-style-lead">Crypto services provider Matrixport insists Bitcoin is still on track to reach $45,000 by the end of the year.</p>
 <p>Bitcoin (BTC) will keep growing to $45,000 this year as futures funding rates signal bullishness among traders. As crypto services provider Matrixport noted in an X post on Oct. 24, the Bitcoin futures funding rates stay “sky-high,” signaling a “FOMO-driven market.”</p>
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    <p lang="en" dir="ltr">Bitcoin Update: FOMO Returns! <br><br>The #Bitcoin futures funding rate is sky-high, signaling a FOMO-driven market. Bitcoin dominance at 52.1%, with volumes soaring at $29bn traded in 24 hours. <br><br>Our 2023 target of $45,000 is on track, thanks to our proven trading models.… pic.twitter.com/tiTqRMQl2b</p>— Matrixport (@realMatrixport) October 24, 2023
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 <p>Data from Coinglass indicates that BTC futures <a rel="noopener noreferrer nofollow" title="funding" href="https://thebittimes.com/tag/funding.html">funding</a> <a rel="noopener noreferrer nofollow" title="rates" href="https://thebittimes.com/tag/rates.html">rates</a> increased significantly after it surpassed the $33,000 threshold. As of press time, out of nine crypto exchanges, only one <a rel="noopener noreferrer nofollow" title="signal" href="https://thebittimes.com/tag/signal.html">signal</a>s a negative <a rel="noopener noreferrer nofollow" title="funding" href="https://thebittimes.com/tag/funding.html">funding</a> rate, suggesting that most traders anticipate a further rally.</p>
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   Bitcoin <a rel="noopener noreferrer nofollow" title="funding" href="https://thebittimes.com/tag/funding.html">funding</a> rate at 5-minute scale | Source: Coinglass
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 <p>Matrixport, based on trading models, says its 2023 target of $45,000 is still “on track” as Bitcoin dominance remains at 52.1%, with volumes soaring at $29 billion in less than 24 hours. Other events might also fuel the Bitcoin rally as new <a rel="noopener noreferrer nofollow" title="signal" href="https://thebittimes.com/tag/signal.html">signal</a>s emerge around a spot Bitcoin ETF.</p>
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 <p>For instance, BlackRock’s iShares Bitcoin Trust has recently been listed on the Depository Trust and Clearing Corporation (DTCC), indicating progress has been made with bringing BTC ETF to U.S. markets.</p>
 <p>The listing on DTCC confirmed that BlackRock’s BTC fund will trade under the ticker IBTC. It is also the first spot Bitcoin ETF out of a dozen applications submitted since June 15 to appear on DTCC’s list.</p>
 <p>John E Deaton, a lawyer at Crypto-Law US, assumes that a Bitcoin ETF approval would occur before the end of the year, or at the latest, by the close of the first quarter of 2024. However, there is also a possibility that the U.S. Securities and Exchange Commission’s (SEC) ongoing discussions with Bitcoin ETF applicants could indicate a strategic move to gather additional information, possibly to devise a fresh rationale for denying the spot ETF, Deaton admitted.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Lawyer suggests Bitcoin ETF approval expected by end of the year
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-to-hit-45k-in-2023-as-funding-rates-signal-fomo-matrixport-says-tbt67534.html">https://thebittimes.com/bitcoin-to-hit-45k-in-2023-as-funding-rates-signal-fomo-matrixport-says-tbt67534.html</a></p>

Bitcoin to hit $45k in 2023 as funding rates signal FOMO, Matrixport says

TheBitTimes

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