Bitcoin ETF

Bitcoin

Narrative

MN Coin

<p>The post <a href="https://coinpedia.org/news/institutional-fervor-as-smart-money-index-hits-all-time-high-ahead-of-crucial-bitcoin-etf-decision/">Smart Money Bets Big on Bitcoin: CME Index Surges as ETF Approval Nears</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In recent financial movements, institutional investors and seasoned traders are notably optimistic about the Chicago Mercantile Exchange (CME). Data from <a href="https://coinpedia.org/crypto-live-news/taiwan-considers-crypto-etfs-mulls-regulatory-demands/">Taiwan’s </a>MacroMicro indicates that the bitcoin futures smart money index (SMI) reached an impressive 13,711 last week. </p> 
<p>Let’s delve deeper into the reasons behind this trend.</p> 
<h2 class="wp-block-heading" id="h-understanding-the-smart-money-index-surge"><strong>Understanding the Smart Money Index Surge</strong></h2> 
<p>MacroMicro’s insights spotlight the SMI, a measure that reflects the difference between large investors’ long and short positions on the <a href="https://en.macromicro.me/charts/29378/cot-bitcoin-index">Chicago Mercantile Exchange</a>. The recent figure of 13,711 surpassed the previous high of 13,603, signaling a heightened bullish sentiment among asset managers and key market participants.</p> 
<p>This simply means that major players in the market are feeling extremely confident and positive.</p> 
<p>Also Read: <a href="https://coinpedia.org/crypto-live-news/taiwan-warns-against-crypto-betting-on-presidential-election-amid-investigation/">Taiwan Warns Against Crypto Betting on Presidential Election Amid Investigation!</a></p> 
<h2 class="wp-block-heading" id="h-why-the-sudden-confidence-boost">Why the Sudden Confidence Boost?&nbsp;</h2> 
<p>The Securities and Exchange Commission (SEC) is poised to make a significant decision regarding a <a href="https://coinpedia.org/news/what-comes-after-etf-cathie-woods-take-on-bitcoins-role-applauds-21shares/">BTC spot ETF</a>. In light of this, institutional investors, often referred to as the ‘smart money’, are strategically positioning themselves. Additionally, many investors are leveraging the CME’s 5 BTC cash-settled standard Bitcoin futures contracts, offering exposure to Bitcoin without direct cryptocurrency interactions.</p> 
<h2 class="wp-block-heading" id="h-etfs-amp-market-behaviour">ETFs &amp; Market Behaviour</h2> 
<p>The rising trend of the smart money index aligns with the increasing speculation surrounding the potential approval of a BTC spot ETF. All eyes are set on January 10, the U.S. SEC’s deadline, when the regulatory agency will determine the fate of an ETF directly tied to <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin</a>, rather than BTC futures.</p> 
<p>This positive sentiment has bolstered Bitcoin’s value by a significant 60% this quarter. However, seasoned experts caution that post-ETF approval, there might be a temporary market adjustment, commonly termed as a ‘sell the news’ event.</p> 
<p>Read More: <a href="https://coinpedia.org/news/anthony-scaramucci-charts-bullish-path-for-bitcoin-expects-new-all-time-high/">ETF Frenzy Intensifies: Anthony Scaramucci Predicts New Bitcoin High in 2024</a></p> 
<h2 class="wp-block-heading" id="h-expert-insights-stay-cautious">Expert Insights: Stay Cautious!</h2> 
<p>While optimism runs high, some analysts advocate for vigilance. QCP Capital’s team indicates that after ETF approval, Bitcoin could face challenges in the $45,000-$48,500 range. A potential retraction to $36,000 is anticipated before a potential recovery. Yet, the overarching sentiment remains optimistic, with a positive trajectory anticipated leading up to Bitcoin’s mining reward halving in April.</p> 
<p>In the midst of these developments, institutional investors maintain a keen interest, eagerly anticipating the unfolding dynamics of the Bitcoin landscape.</p>

Smart Money Bets Big on Bitcoin: CME Index Surges as ETF Approval Nears

Table of Contents

CoinPedia News

Other articles published on Dec 27, 2023

Is VeChain (VET) And Hedera (HBAR) 100% Rally Setting Stage For An Even Bigger 2024?

Crypto: Cardano Smart Contract Adoption Soars

Does Bitcoin ETF Give Access to Actual Bitcoin? Analyst Insights

Is This Chinese College Kid Crypto Royalty? $6 Million Mine Raises Security Concerns

Banks Face Growing Account Closure Crisis: Rethinking AML Processes and Customer Relationships

Controversial Altcoin, About Which Many Countries Started Investigations, Announced That It Start...

Join our free newsletter for daily crypto updates!