wowza SEC APPROVES SPOT ETF

SpyderCall : it's strange how BTC is not ripping, but most other cryptos are rallying hard. I thought it was a BTC etf....?

Kevin Travers OP SpyderCall : Its weird isnt it? Sell the news I guess???

SpyderCall Kevin Travers OP : Who knows I guess we will find out tomorrow.

AkLi SpyderCall : I think it may be because of the few investors who have the power to move bitcoin. Yes retail can buy parts of 1 coin, but spending $46,000 in bulk to try and move markets isn’t in a lot of budgets. Then again, markets move however they want. I think as it gets closer to 9:30am NYC on the day tomorrow, we will see a more decisive move with BTC. Too much speculation, and a lot of big buyers reserve after hours for family and personal goals, not necessarily checking the charts as frequently as others.

There is also the issue with those who don’t entirely trust BTC. So we may see some speculation in markets. Those who don’t hold crypto or trade it, but instead hold options or stock are heavily focused more so on CPI (is my guess), than the Bitcoin ETF.

If CPI comes in favor of the economy, along with the BTC ETF, then I really don’t think it will take long to see a larger move in markets.

Just my thoughts, I could and probably am wrong. However, what happened today makes me think Bitcoin, should all go well, may really never see $20,000 or $35,000 again.

Then again, if bitcoin were to tank as the ETFs attempt to weigh an (mostly) decentralized asset, we might see a dip in price. Which would allow others to buy in at better prices. Especially speculators who are trying to decide if $46,000 is really worth it, or if there could be a better price to finally make a move on.

All just thoughts.

I appreciate your analysis’ btw Spyder. Always providing incredible quality content. We appreciate you.

SpyderCall AkLi : Good insight, for sure. And thanks