Post the Bitcoin ETF approval, the Bitcoin halving in April 2024 will prove to be a major catalyst in driving the BTC price above $100,000 by the end of the year.
The extreme volatility in the Bitcoin market caused liquidations of more than $170 million after spot BTC ETFs went live.
Cathie Wood is expecting around $4 billion inflows into its Ark 21Shares Bitcoin ETF with the asset management firm talking to state pension funds and treasurers.
The impact of the spot Bitcoin ETF approval in the United States is expected to be felt in the coming months as more fund managers compete for the limited supply of Bitcoins amid the upcoming halving event.
In addition to using BTC on X, Musk hinted at the possibility of using BTC as currency on Mars.
Bitcoin has shown a tendency to experience steady price increases in the months following the halving.
Despite Bitcoin’s surging price, block trades show restrained activity. The market sees more selling calls and buying puts, signaling cautious trader sentiment.
The crypto market has experienced heightened speculations in the recent past as more experts forecast a high approval rate for the spot Bitcoin ETFs in the United States.
Standard Chartered compares the Bitcoin ETF launch to the Gold ETF launch of 2004. It expects the BTC price to rally all the way to $200,000 in two years post the ETF approval.
Bitcoin hit its 20-month high on Monday as the former SEC chairman Jay Clayton said that the BTC ETF approval is inevitable.
The recent transaction has sparked speculation within the space. Many people have suggested that the BTC developer has woken up after disappearing from the scene for over a decade.
Based on his historical prediction of 2015 and 2019, PlanB remains confident that the Bitcoin price could rally to $500K during the mega bull run of 2025.
The move into cryptocurrency is not the company’s first foray into the digital assets ecosystem. Last year, Mercari launched different crypto-related offerings for customers.
For Bitcoin to compete with major currencies as a world reserve currency, more merchants must accept it for payment to further improve existing liquidity.
In a peculiar turn of events, a day following the transfer of a substantial 26.9 BTC, valued at $1.17 million, to Bitcoin’s Genesis wallet on January 5, the cryptocurrency community has been abuzz with various speculations and theories.