Bitcoin ETF hype returns as ‘aggressive bid’ sends BTC price near $38K
Continuing, Samson Mow, CEO of Bitcoin adoption firm JAN3, however brought back a $1 million Bitcoin unit price at the hands of the brand-new institutional capital inflows.”It has come to my attention that there are some Bitcoiners that do not think Bitcoin can reach $1,000,000 in a matter of days/weeks after ETF cash begins to flow in. Theyre in for an enjoyable surprise,” he said.RSI “reset” enhances short-term bullish thesisEyeing the prospect of benefit returning, social media commentator Cold Blooded Shiller was amongst those bullish on relative strength index (RSI) values.Related: BTC rate returns key profit mark to Bitcoin exchange users at $34.7 KThese had been “reset” by the trip to weekly lows, he concluded, paving the method for another impulse higher.This was the case not just for Bitcoin, however Ether (ETH) and some other significant altcoins.
Bitcoin (BTC) took fresh aim at $38,000 into Nov. 23 as an “aggressive quote” dispelled cold feet over Binances $4.3 billion fine.BTC/ USD 1-hour chart. Source: TradingViewBitcoin analysis: “Something is cooking” Data from Cointelegraph Markets Pro and TradingView revealed BTC rate strength making a striking resurgence to top out at $37,870.” A popular narrative once again included a prospective U.S. go-ahead for a Bitcoin spot rate exchange-traded fund (ETF), something which could be simply less than 50 days away.Events at Binance, as Cointelegraph reported, may have provided a prompt background for the very first U.S. approval of the long-awaited institutional investment product.Grayscale upgraded their #Bitcoin ETF application!There is absolutely something going on. Continuing, Samson Mow, CEO of Bitcoin adoption company JAN3, nevertheless brought back a $1 million Bitcoin system cost at the hands of the new institutional capital inflows. Theyre in for a pleasant surprise,” he said.RSI “reset” increases short-term bullish thesisEyeing the possibility of advantage returning, social media analyst Cold Blooded Shiller was among those bullish on relative strength index (RSI) values.Related: BTC cost returns crucial earnings mark to Bitcoin exchange users at $34.7 KThese had actually been “reset” by the trip to weekly lows, he concluded, paving the way for another impulse higher.This was the case not only for Bitcoin, however Ether (ETH) and some other major altcoins.
Evaluating the circumstance, fellow trader Pentoshi similarly suggested that the stars might be lining up for BTC rate upside thanks to ETF-induced demand.Regardless of cost action, he added, the approval would indicate “the start of significant multi decades of tradfi allotment. The window is closing Will it be a regional top? Will it be the beginning of considerable multi years of …– Pentoshi euroPeng (@Pentosh1) November 22, 2023
The bounce ended up similarly impressive, nevertheless, and appeared to catch some market participants by surprise with its strength.” BTC– some thick buy walls over on the area Binance market,” popular trader Ninja responded on X (formerly Twitter). “Have not seen such an aggressive quote for a while. Something is cooking.” A popular narrative when again involved a possible U.S. go-ahead for a Bitcoin spot rate exchange-traded fund (ETF), something which could be just less than 50 days away.Events at Binance, as Cointelegraph reported, may have offered a timely background for the first U.S. approval of the long-awaited institutional investment product.Grayscale upgraded their #Bitcoin ETF application!There is definitely something going on. pic.twitter.com/WbWcv7iN8a— Mister Crypto (@misterrcrypto) November 23, 2023
Bitcoin (BTC) took fresh goal at $38,000 into Nov. 23 as an “aggressive quote” dispelled cold feet over Binances $4.3 billion fine.BTC/ USD 1-hour chart. Source: TradingViewBitcoin analysis: “Something is cooking” Data from Cointelegraph Markets Pro and TradingView revealed BTC rate strength making a striking return to top out at $37,870. #Bitcoin Almost back to the top of the range.The $38K level stays my primary level of interest.