The entire crypto community and a significant part of the traditional finance world have started to realize that the SEC will inevitably approve spot Bitcoin ETFs sooner or later. Experts have speculated whether these developments will result in a sell-the-news event, as BTC experienced a drop of over ten thousand in the first two weeks of ETF transactions in January.
Despite debates over the immediate consequences for BTC’s price, many remain optimistic about the long-term effects. CryptoQuant’s CEO also made firm statements that the cryptocurrency’s price would rise this year, primarily due to inflows into ETFs. One month after the ETFs were implemented, Young Ju claimed that the BTC market saw a “monthly spot ETF inflow of $9.5 billion,” which could increase its annual cap by $114 billion.
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Despite debates over the immediate consequences for BTC’s price, many remain optimistic about the long-term effects. CryptoQuant’s CEO also made firm statements that the cryptocurrency’s price would rise this year, primarily due to inflows into ETFs. One month after the ETFs were implemented, Young Ju claimed that the BTC market saw a “monthly spot ETF inflow of $9.5 billion,” which could increase its annual cap by $114 billion.
#Write2Earn #sanor016CommUNITY