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Etfbtc

All eyes on 69000!Once again, all attention is directed towards one area: 69k, the ATH from the last cycle. It's the zone with the trendline, order block, and Fib attention area. If this zone becomes support, there's only one way - up. During this consolidation in the range, liquidity has been taken only from below the consolidation. Next, the liquidity from the upper side, 73-80k, will be targeted. Altcoin season? Very close. However, there's a chance some may make another low in this consolidation, and with liquidity taken from there, a larger climb might begin. The market sentiment has quickly shifted from bearish to bullish with just a small pump. It might be wise to place buy orders a bit lower as a precaution. Overall? I'm very bullish. Institutions, Pension Funds, Investment Funds, the world's most powerful countries (not Germany :))), ETFs (Bitcoin and Ethereum, and maybe soon Solana), Donald Trump (almost a certainty as the future US president): BUY BITCOIN/crypto and promote it. Super cycle is coming! 🌟
Long
by TraderX10101
BTC Spot ETF, mixes the marketBTC is experiencing large price fluctuations related to the BTC spot etf, which has been accepted this time. However, it can be seen that the price has returned to the local downtrend line. After unfolding the trend based fib extension grid, we can see the resistance zone from $45,297 to $44,288, and further we can see a decline to around $41,375. Looking the other way, you can see resistance at $46,906, and then a resistance zone was formed from $48,301 to $49,022, which keeps the price from increasing further. The RSI indicator shows a strong recovery, but there is still room for a larger decline, while the STOCH indicator approached the lower limit, which resulted in the correction slowing down.
by cryptodailyuk
Crypto Market's Time to Shine: ETFs and the Road AheadHello, traders! The past week brought some fascinating developments, and I've decided to share my insights and pose a question regarding the recent news. Let's start. In the world of futures ETFs, these financial instruments offer investors the chance to speculate on the price movements of assets like oil or Bitcoin, all without having to possess the underlying asset itself. I can't emphasize this enough – you're betting on the price action, not the asset. Now, let's talk about these future ETFs. They may seem like nothing more than paper contracts, with no direct influence on the spot price of the asset. But here's the kicker: they do wonders for Ethereum's visibility and reach in the market. Moving on to our next point: Ethereum's journey into the ETF realm puts it in fierce competition with Bitcoin for a coveted Spot ETF approval. The race is on, with a queue of filings already forming. Just a short while ago, Grayscale made a significant move by filing to convert their massive $5 billion Ethereum private trust ( OTC:ETHE ) into an ETF. That's a big deal, folks. But here's the thing to remember: while Ethereum ETFs are gaining momentum, the Bitcoin ETFs have been in line for quite some time. We all know that Spot ETFs are the ones that truly matter in this game. So, when can we expect a Bitcoin Spot ETF? Chances are, it's coming soon. Just last week, Congress sent a clear message to Gary Gensler, the SEC Chair, demanding an end to the discrimination against Bitcoin ETFs. They urged Gensler to approve a Spot Bitcoin ETF, arguing that it would protect investors. With BlackRock and Congress throwing their weight behind this, the SEC can't procrastinate indefinitely. That's why we believe that a Bitcoin Spot ETF might arrive sooner than later – possibly even within this year. Keep in mind that the SEC is set to make decisions on seven filings this month. And if they decide to delay, they'll still need to give a final verdict on nine more filings by March 2024. It's highly unlikely that they'll reject all of them. So, in all likelihood, we'll see a Bitcoin Spot ETF by March 2024 at the latest. And once that milestone is reached, an Ethereum Spot ETF might be the next big thing. Now, let's talk about why the crypto and web3 space is looking exceptionally bullish right now. We've got a Bitcoin Spot ETF approaching, backed by BlackRock and Congress. Ethereum is getting a boost from futures ETFs, pushing it further into the traditional finance realm. The macroeconomic environment is improving, and historically, October and November have been bullish months for crypto. Adding to the excitement is the upcoming Bitcoin halving scheduled for April 2024. It's a combination that makes this an incredibly enticing time to be in the markets. Oh, and did I mention that BlackRock is in the running for the Spot Bitcoin ETF? They wield control over a staggering $10 trillion in assets and have a track record of 575-1 for getting ETFs approved by the SEC. So, traders, what are your thoughts on this exciting future?
Education
by Ingwina
2
Bitcoin ETF Launch: New Bull Run? 🚀📈 The Potential Impact of Bitcoin ETF Launch: A Long-Term Bull Run? 🚀📈 Hello, crypto enthusiasts! Today, let's explore the exciting prospect of a Bitcoin ETF (Exchange-Traded Fund) launch and how it could potentially set the stage for a long-term bull run, drawing parallels with the impact of gold ETFs in 2004. 📊 ETFs: ETFs are investment funds that track the performance of a specific asset or group of assets. A Bitcoin ETF would enable investors to gain exposure to Bitcoin's price movements without holding the cryptocurrency directly. 📈 Historical Precedent: To understand the potential impact of a Bitcoin ETF, we can look back at the launch of gold ETFs in 2004. They provided an accessible way for investors to buy into gold, significantly boosting gold's price and leading to a prolonged bull market. 🚀 Potential Scenarios: If a Bitcoin ETF were to launch, several scenarios could unfold. It could attract a wave of institutional and retail investors looking to diversify their portfolios, potentially driving up demand and prices. 🌟 Long-Term Bull Run: Similar to gold, the introduction of a Bitcoin ETF might pave the way for a long-term bull run. Increased mainstream adoption and acceptance of Bitcoin as a legitimate asset could be on the horizon. 🔮 The Future Awaits: It's essential to remember that markets are influenced by a multitude of factors, and nothing is guaranteed. While a Bitcoin ETF launch could be a catalyst, thorough research and risk management remain crucial. In conclusion, the potential launch of a Bitcoin ETF has garnered significant attention, and its impact could be akin to the transformative effect of gold ETFs. If history is any indication, we might be on the cusp of an exciting era for Bitcoin and cryptocurrency. Stay informed, stay prepared, and remember – the crypto landscape is ever-evolving, presenting both challenges and opportunities! 🌐🚀
INDEX:BTCUSD
by AlexWhale