Crypto market 'significantly underestimates' the bullishness of spot Bitcoin ETFs
"It is unwise not to aggressively accumulate BTC at current levels," K33 principal analyst Velte Lund said in a recent report.
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The Potential of Spot Bitcoin (BTC) Exchange-Traded Fund (ETF) Approval to Boost Prices Is Significantly Underestimated by the Crypto Market, Research Firm Analysts Say in K33 cryptography – formerly Arcane Research.
In a September 5 market report, Vetle Lunde, Principal Analyst at K33, and Anders Helseth, Vice President, said the past three months have significantly improved the odds of a Bitcoin ETF being approved on time, even if the sentiment was not reflected in the price of Bitcoin or others. core crypto assets.
Analysts explained that even though Bitcoin had all but given up on its gains following Grayscale's legal victory against the Securities and Exchange Commission, an approval would "draw huge inflows" and significantly increase buying pressure for Bitcoin.
Bitcoin returned its earnings following Grayscale Victory. Source: K33 ResearchHowever, the downsides of a potential spot ETF rejection would be "negligible" and Bitcoin prices would simply continue to operate as usual, have- they write.
Lunde and Helseth added that given the increased likelihood of spot ETF approvals – with several Bloomberg analysts now
"It is unwise not to aggressively accumulate BTC at current levels," K33 principal analyst Velte Lund said in a recent report.
News
Join us on social networks
The Potential of Spot Bitcoin (BTC) Exchange-Traded Fund (ETF) Approval to Boost Prices Is Significantly Underestimated by the Crypto Market, Research Firm Analysts Say in K33 cryptography – formerly Arcane Research.
In a September 5 market report, Vetle Lunde, Principal Analyst at K33, and Anders Helseth, Vice President, said the past three months have significantly improved the odds of a Bitcoin ETF being approved on time, even if the sentiment was not reflected in the price of Bitcoin or others. core crypto assets.
Analysts explained that even though Bitcoin had all but given up on its gains following Grayscale's legal victory against the Securities and Exchange Commission, an approval would "draw huge inflows" and significantly increase buying pressure for Bitcoin.
Bitcoin returned its earnings following Grayscale Victory. Source: K33 ResearchHowever, the downsides of a potential spot ETF rejection would be "negligible" and Bitcoin prices would simply continue to operate as usual, have- they write.
Lunde and Helseth added that given the increased likelihood of spot ETF approvals – with several Bloomberg analysts now
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