Bitcoin Weekly Forecast: Can BTC spot ETF approval make $50,000 a reality
Bitcoin price remains rangebound in the short term, leaving traders guessing its next move.
From a big-picture outlook, BTC could reach the triple-digit territory if the spot ETF gets approved.
In the short term, however, there is a chance that the pioneer crypto slides to $25,000.
A recent report from NYDIG explores the impact of a Bitcoin spot ETF on BTC price by drawing analogies with Gold and its ETF approval. To put it simply, the report shows that spot Bitcoin funds like Grayscale’s Bitcoin Trust (GBTC) or spot ETFs outside the United States constitute a total of $28.8 billion. Gold, on the other hand, accounts for $210 billion in assets under management (AUM) worldwide as of June