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Bitcoin ETF hype fails to shake bearish $20K BTC price targets
Bitcoin may have hit 17-month highs, but the ETF launch could end up being a “sell the news event” and engender fresh BTC price downside, one theory argues
Bitcoin ETF data listing hints at “time to shine”
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $35,198 on Bitstamp before consolidating.
This represented 17% gains since the prior weekly close and Bitcoin’s highest levels since May 2022.
While back below $34,000 at the time of writing, the mood around the largest cryptocurrency was distinctly optimistic as debate swirled over the potential launch of a Bitcoin spot price ETF in the United States.
Long in the making, appetite for a launch — held back for years by U.S. regulators — was palpable after data for the iShares Spot Bitcoin ETF appeared on the website of the Depository Trust & Clearing Corporation, or DTCC, responsible for clearing Nasdaq trades.
While no official green light has yet been given, the event is increasingly viewed as a matter of time.
Bitcoin may have hit 17-month highs, but the ETF launch could end up being a “sell the news event” and engender fresh BTC price downside, one theory argues
Bitcoin ETF data listing hints at “time to shine”
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $35,198 on Bitstamp before consolidating.
This represented 17% gains since the prior weekly close and Bitcoin’s highest levels since May 2022.
While back below $34,000 at the time of writing, the mood around the largest cryptocurrency was distinctly optimistic as debate swirled over the potential launch of a Bitcoin spot price ETF in the United States.
Long in the making, appetite for a launch — held back for years by U.S. regulators — was palpable after data for the iShares Spot Bitcoin ETF appeared on the website of the Depository Trust & Clearing Corporation, or DTCC, responsible for clearing Nasdaq trades.
While no official green light has yet been given, the event is increasingly viewed as a matter of time.
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