I think there is a high probability that the first ETF application will not be approved for the time being, and may be delayed until the beginning of next year at the longest. This is an emotional blow to the long funds. After all, Bitcoin can now exceed US$30,000. ETF is supported by this news. If it is not approved, short funds may counterattack. On June 30, when the multi-billion dollar contract was delivered, the short funds suffered losses. They took the opportunity to smash down and the short funds made a comeback. The market is still a bear market, especially if interest rates are raised. , the capital crunch under the balance sheet reduction is more likely to go down. You need a reason to sell the market, otherwise this anxious situation cannot be broken #BTC #ETF