The US Securities and Exchange Commission made history in mid-January when it finally approved nearly a dozen spot BTC ETFs to launch on local exchanges. There was a big price run-up ahead of the approvals that resulted in a highly positive Q4 ’23 for BTC. However, the landscape changed on the day the ETFs launched in the US, and Bitcoin slumped by over ten grand in the following weeks. Has the asset finally bottomed? Bitcoin’s price reacted well at first and shot up to over $49,000 hours after the US exchan.
Source: Jordan Lyanchev, 2024-02-04; https://cryptopotato.com/did-bitcoin-btc-price-indeed-bottomed-after-the-unrealistic-etf-related-market-expectations-analysis/