Will Spot Bitcoin ETF Approval Result In A Massive Dump?

Adekunle Joshua

The upcoming approval of a Bitcoin ETF on January 10th has generated enthusiasm, yet CryptoQuant cautions about a potential decline

CryptoQuant foresees a possible price drop to $32,000, attributing it to potential constraints on new liquidity from the ETF

Notably, CryptoQuant points out a market cap rise since October, suggesting that the anticipated January liquidity surge might have already transpired

The analysis by CryptoQuant suggests that investors who acquired BTC prior to 2021 are inclined to hold, thereby mitigating potential selling pressure

The sale of GBTC shares by Ark Invest in favor of BITO shares illustrates varying investor strategies in response to the forthcoming BTC ETFs.