Bitcoin fluctuates on concerns about the impact of spot ETFs

تأرجح عملة البتكوين وسط مخاوف من تأثير صناديق الاستثمار المتداولة الفورية

Bitcoin fluctuates on concerns about the impact of spot ETFs: Bitcoin continues to decline after it fell in the last 24 hours by 2.4% reaching  $42,400, amid traders trying to understand and anticipate the reaction of the cryptocurrency market if the regulator’s decision matches expectations to approve the first American traded fund that invests directly in cryptocurrencies.

 

Topics

Bitcoin increase
Volatility in cryptocurrency trading
Cryptocurrencies

 

Bitcoin increase

Supported by ETFs supporting new demand, Bitcoin rose by 156%.
On the other hand, there are major concerns about whether regulatory approval of ETFs may increase the profits of cryptocurrencies.

 

Volatility in cryptocurrency trading

Nick Carter, a founding partner at Castle Island Management, said in an interview on Bloomberg TV
“that the markets are almost confident that the US Securities and Exchange Commission will approve the issuance of investment funds that invest directly in Bitcoin before January 10.
“Traded funds may increase the base Digital currency investors, but in addition to the possibility of a wave of selling appearing shortly,” Carter added

 

 

Cryptocurrencies

As for the rest of the cryptocurrencies, Avalanche and Solana were the biggest losers in the last 24 hours,
while Dogwifhat declined.
As for Binance Coin (BNB), it rose 10% to avoid selling.

The rise in Bitcoin was linked to expectations of a rate cut in the United States,
which led to compensation for the loss it suffered due to the major collapse it suffered in the year 2022,
which spread in the cryptocurrency sector, and the Bitcoin currency is still below the level it reached in the year 2021 when it achieved  69 thousand dollars.

 

 

Bitcoin fluctuates on concerns about the impact of spot ETFs