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<p>The post <a href="https://coinpedia.org/news/examining-the-impact-of-wall-streets-first-bitcoin-futures-etf/">How Did the Market React to Wall Street’s First Bitcoin Futures ETF?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Cryptocurrency enthusiasts often hail decentralization as a safeguard against traditional market tricks. But recent insights from a Whalewire tweet paint a different picture. Let’s go back to December 2017, a crucial moment when Wall Street launched its first <a href="https://coinpedia.org/news/cme-makes-history-takes-the-lead-over-binance-in-btc-futures-contracts/">Bitcoin futures</a> ETF.</p> 
<p>In a bid to bridge traditional finance with the crypto market, December 2017 saw the debut of the first Bitcoin futures ETF. It was anticipated to be a game-changer, but the aftermath didn’t match the hype.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-s-wild-ride-breaking-down-the-chart">Bitcoin’s Wild Ride: Breaking Down the Chart</h2> 
<p>Whalewire’s tweet, armed with a revealing chart, exposes a noticeable drop in <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin’s price</a> after the ETF’s arrival. The big question: Did Wall Street use the futures market to play with prices, kickstarting a long-lasting bear market? This chapter fueled mistrust towards mainstream financial players.</p> 
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   <p lang="en" dir="ltr">This is what happened when Wall Street had their first <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> (Futures) ETF launch in December 2017.<br><br>They used it to heavily manipulate the prices, which triggered a multi-year blood bath &amp; bear market. Imagine trusting them now with their new scheme. <br><br>But ofc the mainstream… <a href="https://t.co/WCrrC0IzyN">pic.twitter.com/WCrrC0IzyN</a></p>— WhaleWire (@WhaleWire) <a href="https://twitter.com/WhaleWire/status/1729036397820907728?ref_src=twsrc%5Etfw">November 27, 2023</a>
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<p>Understanding the distinction between a <a href="https://coinpedia.org/news/bitcoin-etf-update-sec-seeks-public-input-on-franklin-templetons-spot-bitcoin-etf-proposal/">spot ETF</a> and a futures ETF is key. A spot ETF directly holds Bitcoin, reflecting real-time price changes. Meanwhile, a futures ETF deals with contracts predicting Bitcoin’s future price, adding complexities like leverage and contract expiration.</p> 
<p>Also Read: <a href="https://coinpedia.org/bitcoin/bitcoin-futures-etf-achieves-impressive-1-billion-mark-amidst-fierce-spot-etf-battle/">Bitcoin Futures ETF Achieves Impressive $1 Billion Mark Amidst Fierce Spot ETF Battle</a></p> 
<h2 class="wp-block-heading" id="h-market-tricks-revealed">Market Tricks Revealed </h2> 
<p>The tweet and its graph not only raise questions about futures ETFs but also shine a light on vulnerabilities in spot markets. Tactics like spoofing (placing fake orders) and wash trading (trading with oneself) mess with true supply and demand, distorting price perceptions.</p> 
<p>As we move forward, the crypto community remains skeptical of traditional financial entities introducing new products. The lingering question: Can the decentralized spirit survive the tactics of experienced financial players?</p> 
<h2 class="wp-block-heading" id="h-a-valuable-lesson-learned">A Valuable Lesson Learned</h2> 
<p>Examining Bitcoin’s history amidst Wall Street’s involvement is a cautionary tale. It’s a story of power dynamics, market psychology, and the ongoing battle between decentralization and entrenched financial structures. The saga continues as the forces shaping Bitcoin’s destiny clash.</p> 
<p>This Might Interest You: <a href="https://coinpedia.org/news/bitcoin-btc-price-to-hit-this-level-before-etf-approval-halving/">Bitcoin (BTC) Price to Hit This Level Before ETF Approval &amp; Halving</a></p>

How Did the Market React to Wall Street’s First Bitcoin Futures ETF?

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