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<ul> 
 <li>Reddit discusses alleged altcoin dump strategy ahead of <a href="https://cryptonewsland.com/massive-liquidity-approaching-crypto/">Bitcoin ETF</a> approval.</li> 
 <li>Are whales selling altcoins to pump Bitcoin after expected ETF approval?</li> 
 <li>Community speculates on market manipulation; awaits Bitcoin spot ETF decision.</li> 
</ul> 
In a recent Reddit CryptoCurrency <a href="https://www.reddit.com/r/CryptoCurrency/comments/191a1of/planned_altcoin_dump/?rdt=45772" target="_blank" rel="noreferrer noopener nofollow">thread</a>, users engage in a speculative discussion about a potential planned altcoin dump by major whales. The conspiracy theory suggests that influential entities holding significant amounts of altcoins are strategically selling them to later invest in Bitcoin (BTC), especially after the expected approval of the <a href="https://www.reuters.com/markets/us/us-spot-bitcoin-etfs-could-win-approval-next-week-after-last-minute-application-2024-01-06/" target="_blank" rel="noreferrer noopener nofollow">highly-anticipated spot Bitcoin ETF</a>. 
The post delves into the theory, claiming that a select few entities globally own a substantial portion of the crypto market. Allegedly, these entities are offloading their altcoins with the intention of funneling their investments into Bitcoin immediately after the ETF approval. The post suggests that this strategy involves selling off altcoins, causing their prices to drop, and then reinvesting in those same altcoins after profiting from Bitcoin’s surge. 
The author expresses concern about the continuous altcoin dump and questions the silence surrounding the market behavior. The speculation is that this trend will persist until the approval of the Bitcoin Spot ETF. Some users in the comments section argue that this cycle is a normal aspect of market making. 
The broader crypto community is on edge, eagerly awaiting news regarding the potential approval of the Bitcoin spot ETF. Many believe there’s a <a href="https://cryptonewsland.com/trader-wagers-379k-on-80-odds-for-bitcoin-etf-approval/" target="_blank" rel="noreferrer noopener">high likelihood of approval</a>, while others suspect external forces may be attempting to delay the decision for their benefit, anticipating a surge in Bitcoin prices following a positive ETF announcement. 
One such example could be how many high position players have <a href="https://cryptonewsland.com/grayscale-chairman-barry-silbert-resigns-amid-speculation-on-bitcoin-etf-approval/" target="_blank" rel="noreferrer noopener">left their roles</a>. Members of the crypto community speculate this is so that they can build wealth with insider knowledge. As the market navigates uncertainties, participants remain vigilant, contemplating potential impacts on altcoins and Bitcoin alike. 
<h2 class="wp-block-heading" id="h-read-also">Read Also</h2> 
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/sec-signals-potential-bitcoin-etf-approval-by-jan-10/">SEC Signals Potential Bitcoin ETF Approval by Jan. 10</a></li>
 <li><a href="https://cryptonewsland.com/nft-market-on-dumping-spree-with-massive-bayc-shorts/">NFT Market on Dumping Spree With Massive BAYC Shorts</a></li>
 <li><a href="https://cryptonewsland.com/crypto-dump-alert-ftx-set-to-sell-altcoins-worth-4-6b/">Crypto Dump Alert: FTX Set To Sell Altcoins Worth $4.6B</a></li>
 <li><a href="https://cryptonewsland.com/how-can-bitcoin-sustain-momentum-and-reach-50000-in-q1-2024/">How Can Bitcoin Sustain Momentum and Reach $50,000 in Q1 2024?</a></li>
 <li><a href="https://cryptonewsland.com/blackrock-urges-urgent-approval-of-bitcoin/">BlackRock Urges Urgent Approval of Bitcoin Spot ETF from SEC</a></li>
</ul> 
The post <a href="https://cryptonewsland.com/planned-altcoin-dump-ahead-of-potential-bitcoin-etf-approval/">Planned Altcoin Dump Ahead of Potential Bitcoin ETF Approval?</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.

Planned Altcoin Dump Ahead of Potential Bitcoin ETF Approval?

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