Bitcoin ETF

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-market-awaits-sec-decision-amidst-price-fluctuations-and-etf-speculations/" data-wpel-link="internal">Bitcoin Market Awaits SEC Decision Amidst Price Fluctuations and ETF Speculations</a><br></p>
<p class="p1" style="text-align: justify">As the crypto market awaits the ongoing review of spot ETF applications by the Securities and Exchange Commission, <a href="https://en.coin-turk.com/bitscale-capital-invests-7-94-million-in-wrapped-bitcoin-ahead-of-etf-decision/" data-wpel-link="internal">Bitcoin</a>‘s price fell below the $45,000 level on January 10. At the time of writing, Bitcoin was trading at $45,622, experiencing a 1.16% decrease in the last 24 hours. What can be expected in the coming period? Let’s examine together.</p> 
<h2 class="p1" style="text-align: justify" id="what-happened-on-the-bitcoin-front">What Happened on the Bitcoin Front?</h2> 
<p class="p1" style="text-align: justify">Bitcoin experienced high volatility within the last 24 hours following a security breach on the SEC’s official website on the night of January 10, which resulted in a false message regarding the approval of a spot Bitcoin ETF. This post triggered a significant market movement, causing the Bitcoin price to rise to nearly $48,000.</p> 
<p class="p1" style="text-align: justify">However, after the SEC announced that the tweet was fake, the Bitcoin price fell below the $45,000 level, causing significant liquidation in the futures market. Bitfinex analysts, despite the market excitement caused by the fake post, stated the following:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“US asset managers remain determined in their optimism for the approval of spot Bitcoin ETF applications by the securities regulator.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-300757 size-full" src="https://coin-turk.com/wp-content/uploads/2024/01/btc-grafik-1.png" alt="" width="2494" height="1134"></p> 
<h2 class="p1" style="text-align: justify" id="important-statements-regarding-the-etf-process">Important Statements Regarding the ETF Process</h2> 
<p class="p1" style="text-align: justify">According to Bitfinex Executive Jag Kooner, the approval of a spot Bitcoin ETF could lead to an influx of approximately $155 billion in market value for Bitcoin, based on the current total market value of Bitcoin funds offered in the market. Kooner made the following statements:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“The increase in more institutional investment will indeed be the ultimate test, especially at a time when the crypto futures market and CME exchange open interest are reaching new highs.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">David Bchiri, Founder of XRPL Commons, explained that potential approval of spot Bitcoin ETF applications by the SEC could integrate Bitcoin into the mainstream financial system:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“After the stamp of approval from the US, we can expect a wave of approvals in other jurisdictions worldwide. Applications from traditional <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">finance</a> firms like Blackrock and VanEck will play a significant role in providing more cautious investors and advisors with the opportunity to engage with crypto.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">Aurelie Barthere, Head Research Analyst at Nansen, believes that potential ETF approvals could reduce volatility in the spot markets as new liquidity enters the field following institutional entries. However, Barthere predicted that the first approval could be followed by a short selling period in Bitcoin.</p> 
<p class="p1" style="text-align: justify">CryptoQuant analysts also highlight notable risks of price corrections affecting Bitcoin’s market dynamics. In a report published on January 10, CryptoQuant analysts pointed to data indicating that short-term Bitcoin holders were selling their assets.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-market-awaits-sec-decision-amidst-price-fluctuations-and-etf-speculations/" data-wpel-link="internal">Bitcoin Market Awaits SEC Decision Amidst Price Fluctuations and ETF Speculations</a></h5>

Bitcoin Market Awaits SEC Decision Amidst Price Fluctuations and ETF Speculations

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