Bloomberg ETF Analyst: All Indications Favor Bitcoin ETF Approval, No Other Developments Heard
Bloomberg ETF analyst Eric Balchunas, who often shares updates on Bitcoin ETF progress, responded to the market downturn caused by speculation about the “SEC rejection”.
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Matrixport analyst: Expects all ETFs to be rejected in January, Bitcoin falls to 36K-38K
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ETF analyst follows up with Matrixport researcher for the source of the information
SEC still meeting with issuers to make adjustments
Bitcoin briefly touches 40K
Bitcoin futures long positions liquidated
What did Matrixport say?
Regarding the speculation about the “SEC rejection of ETFs,” Eric Balchunas stated that people are tagging him as crazy on this “rejection” report. He said, “We haven’t seen any signs other than approval.” Eric Balchunas also inquired about whether this statement had any source of information or was just speculation. However, as of the deadline, author Markus Thielen did not respond to Eric Balchunas.
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Eric Balchunas mentioned that the author seems to be bullish on Bitcoin and wonders why he suddenly changed his stance.
Reporter Eleanor Terrett also mentioned that the SEC is still meeting with several major exchanges today to discuss the submission documents of these spot ETF issuers.
ChainNews at 18:54
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Following this news, there was a significant drop, with Bitcoin briefly touching 40750. As of the deadline, it has consolidated to 42431.
According to ChainNews at 20:14, the amount of liquidation on all exchanges reached $378 million in a short period of time, with over 95% being long positions. Bitcoin futures had the largest liquidation size, nearly $100 million.
In fact, Matrixport did not say that Bitcoin spot ETFs will not be approved, but rather that they will not be approved in January and they believe approval will only happen in Q2 2024.
In addition, KOL Aylo also believes that there will be a significant drop in Q1, but not when the ETF is approved, but rather when it is officially launched.
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Aylo: Bitcoin will experience a significant drop in Q1, not when the ETF is approved
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ETF
Bitcoin
Further reading:
Taiwan Judicial Yuan’s Facebook page introduces “Bitcoin” on the occasion of its anniversary, reminding to beware of cryptocurrency scams.
Matrixport analyst: Expects all ETFs to be rejected in January, Bitcoin falls to 36K-38K
