Bitcoin (BTC) is currently ranging around $44,000 as the world's biggest asset manager, BlackRock, is expecting a green light for its spot Bitcoin ETF approval by next Wednesday.
A spot Bitcoin ETF would be like having a direct line to the crypto king, allowing US investors to buy and sell Bitcoin without the hassle of futures contracts. This could make Bitcoin more approachable to average investors, potentially giving its price a boost. But some analysts are worried that the ETF news could also trigger a "sell the news" event, where investors cash out after the hype dies down.
Is Next Wednesday the Next Big Moment for Bitcoin?
Next Wednesday could be a make-or-break day for Bitcoin, as the SEC is scheduled to rule on BlackRock's ETF application. If approved, this could be a game-changer for the crypto market. But if denied, it could lead to a sell-off in Bitcoin prices.
One thing is sure: Wednesday will be a great day for crypto. In any case it will be a wild ride, with a lot of volatility. Therefore, we can only recommend to get prepared for both cases: Pump… Or dump.
Disclaimer: This is not financial advice.
