Bitcoin ETF

Bitcoin

Spot

<p>The post <a href="https://coinpedia.org/news/bitcoin-could-go-down-to-32000-affect-of-post-etf-approval/">Bitcoin Price Might Drop To $32K: Affect of Post ETF Approval?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The crypto industry made strong speculations that after the spot Bitcoin ETF approval, the price of Bitcoin would skyrocket because the signs of approval would have a visible effect on mainstream media and Bitcoin as well. Many people in the crypto industry have also put their stamp on this matter, but from Friday Bitcoin is trading at $42,000 and is still struggling which is currently trading at $42,939.</p> 
<h2 class="wp-block-heading" id="h-possible-reason-behind-dro-p"><strong>Possible Reason Behind Dro</strong>p</h2> 
<p>Anthony Scaramucci has shared his insights as the recent downturn in Bitcoin is partly due to selling pressure from Grayscale’s GBTC and the FTX position. And he cleared that this selling pressure will be resolved soon. Investors hope this liquidation is temporary and Bitcoin will bounce back with a notable surge.</p> 
<p>On Friday, shares of Coinbase lost nearly 7.4% and Bitcoin miners Marathon Digital, Hut 8, and Riot Platforms all followed the trend and lost almost 10%. Coindesk</p> 
<h2 class="wp-block-heading" id="h-spot-bitcoin-etf-approval"><strong>Spot Bitcoin ETF Approval</strong></h2> 
<p>This approval brought a significant surge in Bitcoin price when the day after approval it was trading at $47,000 and the trading volumes surged almost $7.6 billion till today.</p> 
<p>The decline in the Bitcoin price happened the next day when spot Bitcoin ETF trading began. Short-term investors are expecting sudden profits but the holders of Bitcoin are optimistic as this price manipulation is just for some amount of time.&nbsp;</p> 
<p>A recent report by CryptoQuant has predicted that Bitcoin may go below $32,000 after approval and this may be due to the “Sell The News” trend.</p> 
<figure class="wp-block-image size-full">
 <img decoding="async" width="811" height="424" src="https://image.coinpedia.org/wp-content/uploads/2024/01/13111414/image-56.png" alt="" class="wp-image-261059" srcset="https://image.coinpedia.org/wp-content/uploads/2024/01/13111414/image-56.png 811w, https://image.coinpedia.org/wp-content/uploads/2024/01/13111414/image-56-300x157.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/01/13111414/image-56-768x402.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/01/13111414/image-56-150x78.png 150w" sizes="(max-width: 811px) 100vw, 811px">
</figure> 
<h2 class="wp-block-heading" id="h-cathie-wood-optimistic-on-bitcoin-surge"><strong>Cathie Wood Optimistic On Bitcoin Surge</strong></h2> 
<p>Before the approval of Spot Bitcoin ETF Ark Invest Cathie Wood prominent industry analyst said that Bitcoin could go $1.5 million at the end of 2030.&nbsp;</p> 
<blockquote class="wp-block-quote"> 
 <p>“We think the probability of the bull case has increased with this SEC approval. This is a green light,”&nbsp;</p> <cite>Cathie Wood</cite>
</blockquote> 
<p>This anticipation is not only by Cathie Wood as Standard Chartered predicted Bitcoin may go $200,000 by the end of 2025.&nbsp;</p>

Bitcoin Price Might Drop To $32K: Affect of Post ETF Approval?

Table of Contents

CoinPedia News

Other articles published on Jan 13, 2024

Ethereum’s Volatility vs. XRP Resilience: Analyzing Market Moves as NuggetRush Eyes $0.018

Bitcoin Plummets Below $42,000, Over 101,000 Crypto Traders Liquidated

Anticipating the Hottest Crypto Airdrops of 2024 to Not Miss Them

Hedera Council Approves Fund Allocation for its Ecosystem

Bitcoin’s 6% Plunge Raises Concerns Amid ETF Launch

Why Does Bitcoin Decline Following the SEC’s ETF Approval? An Analysis

Join our free newsletter for daily crypto updates!