Ethereum

Bitcoin

Spot

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<ul>
 <li>As of the time of writing, Bitcoin is trading at a price of $43,620, with a market value of $853 billion.</li>
 <li>A recent update from QCP Capital suggests that the approval of a spot Bitcoin (BTC) ETF could happen in less than three weeks.</li>
 <li>QCP Capital also suggests an interesting opportunity for Ethereum (ETH) as a laggard play.</li>
</ul>
<p><strong>While the price of Bitcoin continues to fluctuate around the $44,000 level, statements from QCP Capital are generating excitement in the community regarding ETFs!</strong></p>
<h2 id="strong-when-can-spot-bitcoin-etfs-get-approval-strong"><strong>When Can Spot Bitcoin ETFs Get Approval?</strong></h2>
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-126542" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-44.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="Bitcoin-BTC" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-44.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-44.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-44.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-44.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-44.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-44.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Bitcoin-BTC-44.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p>
<p>The price of Bitcoin has recently experienced fluctuations in the range of $42,000 to $44,000. As of the time of writing, Bitcoin is trading at a price of $43,620, with a market value of $853 billion. The crypto community eagerly anticipates the approval of spot Bitcoin ETFs since the updated S1 filings from entities like BlackRock and WisdomTree, introducing cash creations.</p>
<p>A recent update from QCP Capital suggests that the approval of a spot Bitcoin (BTC) ETF could happen in less than three weeks. The statement is expected to be made either at the market close on January 5 or between January 8-10, 2024. Making an important observation, QCP Capital notes that contrary to expectations, there might initially be a lack of actual demand for the first request for the BTC Spot ETF. This could lead to a “sell the news” scenario in the second week of January.</p>
<p>In this context, QCP Capital reveals expectations for upper resistance in the 45-48.5k range for BTC, and a potential retracement to around 36k levels before the upward trend continues. This analysis provides insights into the market dynamics surrounding the upcoming BTC Spot ETF launch and the possible impact on Bitcoin’s price trajectory.</p>
<p>This contrasts somewhat with the Matrixport report, which suggests that the BTC price could surpass $50,000 with ETF approval. Additionally, as the approval date approaches, Bitcoin whales are re-entering the market and may have accumulated during price corrections.</p>
<h2 id="strong-ethereum-etf-insights-from-qcp-capital-strong"><strong>Ethereum ETF Insights from QCP Capital</strong></h2>
<p>QCP Capital also suggests an interesting opportunity for Ethereum (ETH) as a laggard play. Expectations in the market may shift rapidly towards an Ethereum Spot ETF, primarily focusing on the launch of the Bitcoin (BTC) Spot ETF. This expectation could lead to a scenario where investors transition from BTC to ETH. Recently, the SEC deferred decisions on spot Ethereum ETF applications from Hasdex and Grayscale.</p>
<p>QCP Capital notes a significant support level at 0.051 on the ETHBTC cross and provides additional context for potential market movements. While QCP Capital believes that approval for an ETH spot ETF is still a few months away, it anticipates that providers who have already received approval for BTC spot ETFs could quickly apply for ETH spot ETF approval. The excitement generated by such headlines sheds light on dynamic market movements around Ethereum and explains the possible effects of the evolution of ETF trends.</p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com/can-spot-bitcoin-etfs-get-approved-earlier-than-expected-in-the-us/">Can Spot Bitcoin ETFs Get Approved Earlier Than Expected in the US?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>
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Can Spot Bitcoin ETFs Get Approved Earlier Than Expected in the US?

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