Future

Bitcoin ETF

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/insights-on-bitcoins-future-amidst-sec-etf-decisions-and-market-movements/" data-wpel-link="internal">Insights on Bitcoin’s Future Amidst SEC ETF Decisions and Market Movements</a> 
In the crypto market, investors continue to stay calm even if the SEC greenlights spot <a href="https://en.coin-turk.com/bitcoin-may-approaching-the-bottom-pay-attention-to-this-data/" data-wpel-link="internal">Bitcoin</a> ETF applications, pondering what could happen to Bitcoin price movements. A popular theory suggests that the crypto market may experience a slower recovery after sudden losses. Investors are looking at this situation with a “sell the news” mindset. 
<h2 class="p1" style="text-align: justify" id="prominent-analyst-makes-noteworthy-statement">Prominent Analyst Makes Noteworthy Statement</h2> 
For Michaël van de Poppe, founder and CEO of crypto trade firm MN Trading, the long-term outcomes seem clear. The renowned analyst stated on <a href="https://newslinker.co/category/social-media/" data-wpel-link="exclude">social media</a> platform X on January 7: 
<blockquote> 
 “Bitcoin ETF products will have a significant impact on the crypto market. Approximately 30-60 billion dollars of liquidity will flow into the markets, and as a result, Bitcoin will face a bull cycle similar to the Dot com bubble or the Gold rush between 2004-2011.” 
</blockquote> 
According to TradingView data, the weekly close happened around the $44,000 level, and the BTC/USD pair has continued to move within a narrow trading range since the beginning of December. A rebound was seen near the $43,000 level at the opening of Asian markets, and at the time of writing, Bitcoin is trading at $45,190. 
<h2 class="p1" style="text-align: justify" id="what-is-expected-for-bitcoin-prices">What is Expected for Bitcoin Prices?</h2> 
Another popular analyst, Skew, emphasized the need to maintain the 200-period simple (MA) and exponential (EMA) moving averages on hourly time frames: 
<blockquote> 
 “The impulse swept the previous high and also the weekly open before the sell-off. The key is to reclaim the weekly open and hold the hourly 200EMA and MA as support, which are the first triggers to be on the long side.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-299634" src="https://coin-turk.com/wp-content/uploads/2024/01/skew-tweet-1.png" alt="" width="500" height="534"> 
Skew also touched upon the current state of funding rates. They were overly positive before the liquidation volatility last week but have now retreated to sustainable levels: 
<blockquote> 
 “From now on, the spot will determine the price direction, but in terms of net positioning, there are probably a ton of long positions in the market right now, and therefore these long positions will require spot offers from here.” 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/insights-on-bitcoins-future-amidst-sec-etf-decisions-and-market-movements/" data-wpel-link="internal">Insights on Bitcoin’s Future Amidst SEC ETF Decisions and Market Movements</a></h5>

Insights on Bitcoin’s Future Amidst SEC ETF Decisions and Market Movements

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