The prospect of BTC spot ETF approval prompts traders' evaluation, potential profit-taking may occur

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2023/12/27 03:40

BTC is experiencing a decline, and traders are evaluating what the crypto market's reaction might be if regulators approve the first batch of BTC spot ETFs. BTC has risen 156% this year, partly because investors bet that ETFs will stimulate new demand for Bitcoin. A key question is whether the actual approval of these products will trigger some profit-taking. In other words, there remains uncertainty about potential market interest in spot BTC ETFs planned to be launched by companies like BlackRock and Fidelity Investments.

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