Bitcoin ETF Drama Reveals Post-Approval Price Trend: Experts
Summary
Bitcoin market experienced frenzy due to an alleged hack of SEC's X account falsely claiming approval of 11 spot ETFs. Bitcoin's price surged from $46,800 to $48,000, then crashed to $45,000 within 20 minutes. Analysts from K33 Research, QCP Capital, and Daan Crypto Trades provided insights. K33 Research sees a 'sell-the-news' reaction to ETF approval. QCP Capital warns that the market may have already priced in the approval. Daan Crypto Trades suggests a potential spike in ETH/BTC ratio post-approval. BTC currently trades at $45,346.
