Bitcoin ETF

Bitcoin

BTC and altcoins experienced a significant rise as optimism rose regarding the SEC's approval of spot Bitcoin ETFs.
At this point, as BTC rose above $ 35,000 for the first time since May 2022, a new analysis came from the CryptoQuant analyst.
Stating that short-term Bitcoin investors made profits on the rise to $ 35,000, the analyst said that after such situations, a horizontal or correction process usually follows in BTC.
Additionally, the analyst said that if approval for the spot Bitcoin ETF is not clear, short-term movements from late October to early November are likely to be sideways or corrective.
<blockquote>
 “Bitcoin holders with less than six months term profited as BTC reached $35,000.
 Such situations usually occur after a strong rise in a bull market and are always followed by a sideways or correction period.
 Unless approval for a Bitcoin spot ETF is clarified, short-term movements from late October to early November are likely to be sideways or corrective. “
</blockquote>
Bitcoin continues to trade at $34,166 at the time of writing.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Short-term holders realized profits.
 "Such movements often occur after a strong rise in a bull market, each time followed by a sideways or correction period." by <a href="https://twitter.com/DanCoinInvestor?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@DanCoinInvestor</a>
 Link<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/9gSJnrRfB5" rel="noopener noreferrer nofollow">https://t.co/9gSJnrRfB5</a>
 — CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1717719197172846775?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 27, 2023</a>
</blockquote>
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*This is not investment advice.
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