Bitcoin ETF

Galaxy

Bitcoin

Spot

<p><a href="https://en.coin-turk.com/bitcoin-reaches-new-high-of-35000-in-2023-with-blackrocks-move/" data-wpel-link="internal">Bitcoin</a>‘s price is once again over $43,000, and there’s movement in altcoins. So, why have the markets turned positive? There are several reasons. We had mentioned early on Sunday that negativity could persist until a few hours after the Fed’s decision on Wednesday. It happened as expected, and now we’re moving into the second phase.</p> 
<p>The fluctuation in Bitcoin’s price could continue until the Asian markets open in a few hours. There’s a daily closing in about 1 hour, and it’s important to close it above $43,000. However, our current topic is beyond short-term movement; it’s about the changing market sentiment. Peaks are now turning into temporary rest areas beyond profit-taking regions. BTC appears to have completed the recent correction for now and is focusing on its next target.</p> 
<p><img loading="lazy" decoding="async" loading="lazy" class="wp-image-288800 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/btc-aylik-kazanc.png" alt="" width="1152" height="559"></p> 
<h3 id="exchange-volumes">Exchange Volumes</h3> 
<p>Bitcoin’s trading volume on exchanges reached its highest level in the last 6 months on December 11th. While the activity in BTC trades may not be at the desired level, the revival of demand after the withdrawal of major market makers is reminiscent of a significant return, which is positive.</p> 
<p><img loading="lazy" decoding="async" loading="lazy" class="wp-image-288801 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/btc-borsalar-hacmi.png" alt="" width="1156" height="508"></p> 
<h3 id="spot-bitcoin-etf">Spot Bitcoin ETF</h3> 
<p>The macroeconomic fluctuations have calmed down for now, and Powell also mentioned that we’re approaching interest rate cuts. On the other hand, BTC, which has gained 153.5% since the beginning of the year, also positively priced in the recent <a href="https://en.coin-turk.com/latest-update-on-binance-case-cz-might-have-to-stay-in-the-us-longer-than-expected/" data-wpel-link="internal">Binance</a> deal. Experts who say that this deal could pave the way for a spot Bitcoin ETF approval are very hopeful for January 10th. We will have reached the big day in about 26 days.</p> 
<p>CryptoQuant analysts said some very nice things about the early results of the ETF approval. If the approval comes in January, analysts believe BTC’s market value could increase by approximately $1 trillion. This could mean the price could rise above $85,000. Galaxy Digital forecasts a 74% price increase in the first year following the launch of a spot BTC ETF.</p> 
<p>Both predictions tell us that the cumulative market value of cryptocurrencies could increase by over 100%. This could mean gains exceeding 10 times for some altcoins.</p> 
<h3 id="institutional-entries">Institutional Entries</h3> 
<p>While some investors anticipate that a spot ETF approval could increase liquidity, institutional investors have already started to enter Bitcoin and crypto. We draw attention to the CoinShares reports every Monday, and the steady entries are excitingly continuing. Last week, the institutional entry of $39.9 million was solely into Bitcoin, and net entries have been continuing for 11 weeks.</p> 
<p><img loading="lazy" decoding="async" loading="lazy" class="size-full wp-image-288802 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/Coinshares-girisleri.png" alt="" width="835" height="793"></p> 
<p>This year, the net entry into cryptocurrencies was $1.88 billion.</p> <span style="font-weight:bold;font-size:16px">Continue Reading:</span> <a href="https://en.coin-turk.com/understanding-the-recent-positive-turn-in-crypto-markets/" data-wpel-link="internal">https://en.coin-turk.com/understanding-the-recent-positive-turn-in-crypto-markets/</a>

Understanding the Recent Positive Turn in Crypto Markets

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