Ethereum

Bitcoin ETF

Bitcoin

James

<p style="text-align: justify">According to the latest K33 research report, the <a href="https://en.coin-turk.com/ordinals-tokens-continue-to-dominate-the-bitcoin-network/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> price reaching all-time highs will be significantly faster in this cycle. The downturn has lasted 755 days so far. Currently, Bitcoin is at approximately 36% of its all-time high of $69,000 set in November 2021.</p>
<h2 id="current-report-on-bitcoin">Current Report on Bitcoin</h2>
<p style="text-align: justify">This situation is compared with the 1,178 days spent recovering after 2013 and 1,092 days after 2017 with K33. Analyst Vetle Lunde and Vice President Anders Helseth stated:</p>
<blockquote>
 <p style="text-align: justify">None of the past cycles have seen the institutional demand that is comparable to the current one, with major <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">financial</a> institutions both joining the space and vouching for it out loud.</p>
</blockquote>
<p style="text-align: justify">The Securities and Exchange Commission in the US has not yet approved a spot Bitcoin ETF, although it previously approved funds based on futures in 2021. The SEC’s next deadlines for deciding whether to approve, reject, or delay applications from firms like BlackRock, Bitwise, VanEck, WisdomTree, Invesco, Fidelity, and Valkyrie are mid-January. Bloomberg analyst James Seyffart recently suggested that the potential approval of a spot Bitcoin ETF could fall between January 5 and January 10.</p>
<p><img decoding="async" class="size-full wp-image-285552 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/Bitcoin-1.webp" alt="" width="877" height="539"></p>
<h2 id="critical-data-on-btc">Critical Data on BTC</h2>
<p style="text-align: justify">Lunde and Helseth pointed out that data obtained from institutional analysts at the Chicago Mercantile Exchange shows that annual premiums for Bitcoin and <a href="https://en.coin-turk.com/the-future-of-ethereum-a-promising-journey-towards-mass-adoption/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum</a> are above 17% and open positions are at all-time highs, which is why profits have not yet been realized. The premium is the difference between the spot price of an asset and the price of its futures.</p>
<p style="text-align: justify">Lunde and Helseth stated that the 164% price increase in Bitcoin to date has not been reflected in the increase in retail participation. Website traffic data and exchange reports show that individual demand is currently lower than in the third quarter of 2022. Visitors to crypto websites, which are often used as an indicator of individual interest, have decreased by about 50% compared to a year ago, in line with the third-quarter report that highlighted Coinbase’s trading volume has continued to decline since 2021.</p> <span style="font-weight:bold;font-size:16px">Continue Reading:</span> <a href="https://en.coin-turk.com/bitcoins-rapid-recovery-predicted-in-latest-k33-research-report/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/bitcoins-rapid-recovery-predicted-in-latest-k33-research-report/</a>

Bitcoin’s Rapid Recovery Predicted in Latest K33 Research Report

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