{"id":195279,"date":"2023-10-26T13:38:54","date_gmt":"2023-10-26T13:38:54","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=195279"},"modified":"2023-10-26T13:38:54","modified_gmt":"2023-10-26T13:38:54","slug":"bitcoin-etf-rumors-catalyst-for-a-rally-or-a-sell-the-news-event-coinpedia-fintech-news","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/bitcoin-etf-rumors-catalyst-for-a-rally-or-a-sell-the-news-event-coinpedia-fintech-news\/","title":{"rendered":"Bitcoin ETF Rumors: Catalyst for a Rally or a "Sell-the-News" Event? – Coinpedia Fintech News"},"content":{"rendered":"

Can Bitcoin ETF rumors keep BTC rallying? Certainly not, and that makes the Sell-the-news prominent; here\u2019s why? The Bitcoin price is on the cusp of surging to new yearly highs, setting the stage for a potential all-time high (ATH) shortly. Long-term forecasts for BTC are remarkably optimistic, reflected in traders maintaining their long positions.<\/p>\n

Recent increases in trading volume, after a period of lower activity, hint at potential upcoming volatility. These factors collectively add to the potential for Bitcoin to breach $40,000, possibly by the end of October or early November. <\/p>\n

BTC is hovering just below $36,000, with 38.2% Fibonacci ratios indicating a challenge. At the same time, the Relative Strength Index (RSI) crossed 70 in 2021, which flags an \u201coverbought\u201d condition, warranting caution for potential rapid rallies. The price consolidates around $34,500 after hitting a 2023 high of $35,000. <\/p>\n

But What\u2019s driving the BTC Rally? How Long it will Stay?<\/strong><\/h2>\n

The market surge is fueled by expectations of the first US exchange-traded funds (ETFs) directly investing in Bitcoin gaining approval. Bloomberg analysts predict a potential \u201csell-the-news\u201d event post-approval, as the markets may have priced it in. If you are waiting for a bull run post-approval of ETF, then you must know this: <\/p>\n

The pivotal question now revolves around whether the actual greenlighting of these ETFs will trigger a wave of profit-taking among investors. Hayden Hughes, co-founder of Alpha Impact’s social trading platform, foresees a potential \u201csell-the-news event if it\u2019s approved,\u201d underscoring the cautious sentiment among market participants.<\/p>\n

Despite Bitcoin\u2019s rally, global stock markets confront rising long-term Treasury yields and geopolitical uncertainty. Bitcoin’s unique value proposition as a digital store of wealth and inflation hedge is shown by its outperformance of traditional assets. Due to spot ETF clearance, Bitcoin and crypto stocks like Coinbase and MicroStrategy have risen, but these gains may not last. Regulatory approval doesn\u2019t guarantee lasting price increases.<\/p>\n

BTC to Touch $40K by Year End? <\/strong><\/h2>\n

Based on bullish sentiments. Deribit, the largest cryptocurrency options exchange, reveals a notable surge in bullish bets on Bitcoin, with a sizeable accumulation of positions speculating on a price rise to $40,000 by year-end. Notably, the projection signifies a substantial 16% jump from current levels, reflecting many traders’ confidence in Bitcoin\u2019s near-term potential.<\/p>\n

In Comparison with Gold<\/strong><\/h2>\n

Bitcoin\u2019s recent rally is shifting attention away from Gold, signaling a transformative shift in the dynamic between the two assets. Bloomberg\u2019s Senior Macro Strategist, Mike McGlone, notes that the traditional 10x crypto-to-gold valuation metric may change soon. As Bitcoin steps into the mainstream financial forte, the imminent approval of US spot Bitcoin ETFs is anticipated to solidify its position further, potentially chipping away at Gold\u2019s historical supremacy as a store of value. <\/p>\n

Can Bitcoin reach $42,000 with ETF launch? Or will the sell news slow its growth? Tell us. <\/strong><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Can Bitcoin ETF rumors keep BTC rallying? Certainly not, and that makes the Sell-the-news prominent;…<\/p>\n","protected":false},"author":4,"featured_media":195278,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nBitcoin ETF Rumors: Catalyst for a Rally or a "Sell-the-News" Event? - Coinpedia Fintech News - Tokens Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tokenstalk.info\/crypto\/bitcoin-etf-rumors-catalyst-for-a-rally-or-a-sell-the-news-event-coinpedia-fintech-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin ETF Rumors: Catalyst for a Rally or a "Sell-the-News" Event? - Coinpedia Fintech News - Tokens Talk\" \/>\n<meta property=\"og:description\" content=\"Can Bitcoin ETF rumors keep BTC rallying? 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