Bitcoin ETF Approval; Price dumps, what Next?

[borovichok]

As the title suggests, we have all been waiting for this period for a long time, and it has finally here, yet the price of BTC remains low despite the high spot ETF Bitcoin trading volume. We were led to expect that the price would increase upon SEC approval, but the contrary is now happening.  What now?

Day 1. Trading volume as reported on multiple meanstrem.

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[snowpega]

As the title suggests, we have all been waiting for this period for a long time, and it has finally here, yet the price of BTC remains low despite the high spot ETF Bitcoin trading volume. We were led to expect that the price would increase upon SEC approval, but the contrary is now happening.  What now?

Day 1. Trading volume as reported on multiple meanstrem.

Dear Indeed, Approval of ETF is the biggest achievement for the Crypto Industry and we know that thing never works according to our hopes because there are big entities before all that "big money" who have that much power to manipulate the market sentiments. But I assure you that in the coming some months we will see good changes in the crypto market but before that, we will see a kind of correction before halving events. Manipulation of the market is a preplanned agenda but the market will surely go up after some time. Give it time you will see good movements in the market.

You also know that how dramatic the system is as we know that some days ago there was a drama by the SEC that their Twitter handle was compromised by hackers which I think that was a part of their plan and for now you also thinking about why we are not seeing good pumps in the market even ETF has been approved because as i aforementioned in this industry everything work according with plans. So dear, just wait and watch we will see good things as well.

[franky1]

many were expecting the social drama media frenzy triggered FOMO pump

however their are many levels at play

firstly the bitcoin spot market is artificially being held under a $47k resistance wall this week
most of this is caused by FUTURES contracts. as soon as they conclude and participants win. those participants will stop using their separate stash on the spot markets to keep the price artificially below the $47k

you can recognise the signs
first of all. bitcoins trading usually is not so stable in a free un-manipulated market..
secondly you can see on the ETH-USD that eth is staying 98% within range of a btc1:17eth
by seeing eth peg 98% to bitcoin at 17 eth to 1 btc..
it shows many trades are happening on bitcoin to dollar, then dollar to eth, then eth to btc (to keep price below $47k)
it shows many trades are happening on bitcoin to eth, then eth to dollar, then dollar to btc (to keep price above $46k)

if things were truly "free market" "independent"
ether-bitcoin would not be pegging at a 98% where ether shadow traces bitcoins price wiggles at a 1:17 rate

if things were truly "free market" "independent"
ethereums price(different community of utility and sentiment) would chart completely different wiggles to bitcoin market movements

so by seeing the arbitraging going on. shows whales wants to keep prices within a certain range
...
they want to play the futures markets and win bets on bitcoin price to multiply(futures leverage) more coin to then put into baskets to then play around on ETF

all the shrimp and fish that bet(futures leverage) bitcoin would FOMO pump this week will lose. meaning the whales controlling the resistance of spot market will win the losers coin+more


just wait until these contracts end and you will see the resistance walls collapse and a bit of natural freemarket movement where people will be buying actual bitcoin. and .. well back into another session of contracts at the next level

if you zoom out of the market charts enough you will start to see a 'step stone' effect of
            ,~~^~~
~~v~~'

[Kakmakr]

There are a lot of liquidation going on by people with long positions that were hoping for a good outcome of the SEC approval of the Bitcoin ETFs.

The Bitcoin markets also priced in an increase in the price, before the actual event happens as we see with the "Halving" event. People buy more in the hype buildup before the actual event happens.

The actual impact on the price will be experienced over a longer period, as investors "test" the water with this new investment option.

[Odohu]

The simple explanation is that the market is heavily manipulated, hence the outcome of the ETF approval which fell below the expectations of many of us. A simple way out is to play long term, because after the manipulations comes the real surge.

If you want to join the whales in this manipulation, you might get burnt. Those who actually started preparing for this ETF early last year are comfortable in good profits and many of them are already liquidating.

[Marvell1]

We were led to expect that the price would increase upon SEC approval, but the contrary is now happening.  What now?

Are you disappointed? As for me, although I also expected bitcoin to increase strongly, but I was not too disappointed when things did not go as expected because I knew bitcoin was very unpredictable. We should accept what is happening and plan next instead of continuing to be disappointed just because the bitcoin price did not increase in the short term as we expected. In terms of predicting what happens next, I still believe bitcoin will reach $50k before entering a major pullback.

[mvdheuvel1983]

We were led to expect that the price would increase upon SEC approval, but the contrary is now happening.  What now?

First observation from the past 24 hours is that public sentiments were wrong about pump. Second observation is that there are more to this than meets the eyes. It is like the proverbial, the more you look, the less you see. Looking closing we we'd see that the whales are playing a game with the price and that is why the price is looking as if it is stable when it is all over, then we would see the price pump. As a retail investor, it is okay to be disappointed but this will not last too long. Be patient.

[AbuBhakar]

As the title suggests, we have all been waiting for this period for a long time, and it has finally here, yet the price of BTC remains low despite the high spot ETF Bitcoin trading volume. We were led to expect that the price would increase upon SEC approval, but the contrary is now happening.  What now?

What now? Surely price will correct heavily since many seasonal trader just purchased due to the expectation that Bitcoin will pump once ETF approved. The price pump but not as high as expected so slowly this seasonal trader will take profit and probably just wait for another re-entry for the Bitcoin Halving event pump.

SEC kinda kill the hype after the fake news Bitcoin approval on their social media while Bitcoin ETF was supposed to be approved on the other day. I believe Bitcoin should reach 50K area if there’s no epic fake announcement.

[ivankoh]

I think the price correction will be similar to normal but ETF is good for the future of bitcoin and the crypto market as well. It's a significant step towards changing the perception and familiarity of bitcoin. We cannot expect strong pumping including subsequent reactions. In the long term, the value of bitcoin will remain optimistic.

[DooMAD]

yet the price of BTC remains low

Low?  There have only been a few times in 2021 and 2022 where the price has been higher than it is now.  It's higher now that it was through the whole of 2023, 2020, 2019, etc.

You moonboys make me chuckle.  Got all your hopes up over nothing because you have no patience.

[Poker Player]

People forget that ETFs add volatility and that just as they can drive the price up faster, they can also drive it down.

The actual impact on the price will be experienced over a longer period, as investors "test" the water with this new investment option.

Yes, I also believe that the positive impact will be felt in the medium and long term, along with halving. But I would have expected a clearer upside with the approval, followed by a downside to catch minnows, surely the approval was already discounted by the market.

[MFahad]

Day 1. Trading volume as reported on multiple meanstrem.

They Look Like a Bunch of Low volume Bitcoin Forks. LOL   
I would rather buy Few satoshis of actual bitcoin than these clowns.

yet the price of BTC remains low despite the high spot ETF Bitcoin trading volume.

Bitcoin price is not low. it just didn't increase like everyone predicted about it. obviously, everyone was unnecessarily hyping ETF. so everyone thought that once ETF got the approval, Bitcoin Price would skyrocket. which didn't happen.
also the previous hack of SEC account also reduced the effect in my opinion.

[Solosanz]

The next is Bitcoin will pump.

I think right now other people are really excited with Bitcoin ETFs, but after it's already approved, they start to sell their coins. Right now, it's quite stable and this might be the price correction. After all we're looking for long term and next year Bitcoin will reach new ATH.

[pawanjain]

As the title suggests, we have all been waiting for this period for a long time, and it has finally here, yet the price of BTC remains low despite the high spot ETF Bitcoin trading volume. We were led to expect that the price would increase upon SEC approval, but the contrary is now happening.  What now?

The price almost touched $49k as the ETF got approved and so we cannot really say that the price is low.
The volatility is high and may others mentioned there's a lot of manipulation going on right now.
Another thing is that as the ETF is approved the price of bitcoin is bound to increase but over a long term.
It will take a few months to see the larger impact of ETF approval on bitcoin.
Next is halving and so the price will pump harder. Just wait until the end of the year.

[borovichok]

People forget that ETFs add volatility and that just as they can drive the price up faster, they can also drive it down.

The actual impact on the price will be experienced over a longer period, as investors "test" the water with this new investment option.

Yes, I also believe that the positive impact will be felt in the medium and long term, along with halving. But I would have expected a clearer upside with the approval, followed by a downside to catch minnows, surely the approval was already discounted by the market.

Some analyst said Day1 inflow trade will hit $4b but only $1b was witnessed , we didn't even get half of what was analysed. I think the Sec deleting the announcement from it page also contributed to a major set back.

The next is Bitcoin will pump.

I think right now other people are really excited with Bitcoin ETFs, but after it's already approved, they start to sell their coins. Right now, it's quite stable and this might be the price correction. After all we're looking for long term and next year Bitcoin will reach new ATH.

Selling at loss, wasn't the ETF me at to triple the current price? All hype and nothing in reality.

[KingsDen]

I think the price correction will be similar to normal but ETF is good for the future of bitcoin and the crypto market as well. It's a significant step towards changing the perception and familiarity of bitcoin. We cannot expect strong pumping including subsequent reactions. In the long term, the value of bitcoin will remain optimistic.

The ETF approval is not something that will last for one month and all agreements would be reversed. If it was a month or weeks something, the FOMO will have effects in the market. I think this development is permanent, which will make changes in the market to be somewhat slow. We shouldn't also forget that manipulators are in the market who are ready to show people signs of disappointment in order for them to forgo their spots. These institutional traders will like to buy BTC at the cheaper rate, it is therefore expected that they will shake off the weaker hands.

My projection is that before June, bitcoin price will be somewhere at $60k. The effect of ETF approval will be felt more during the bull run. I  see the present market condition as an opportunity to enter the market for those who has not taken nice position in the market. Cheers everyone, better days are ahead.

[sujonali1819]

As the title suggests, we have all been waiting for this period for a long time, and it has finally here, yet the price of BTC remains low despite the high spot ETF Bitcoin trading volume. We were led to expect that the price would increase upon SEC approval, but the contrary is now happening.  What now?

Around the Bitcoin ETF, there was a pump-dump scenario due to some dramas. But after it got approved officially bitcoin started to pump. Now dumped a little bit and running sideways.

I think the dump happened due to Vanguard blocked their client from buying Bitcoin.



source: https://www.coindesk.com/business/2024/01/11/investment-giant-vanguard-blocks-clients-from-buying-bitcoin-etfs/

[electronicash]

the timing of the approval is done deliberately. it's the time when the daily chart and weekly chart are where it says the market is about to dump. SEC knows that if anyone buys at such a time where it's overbought then those investors will be investing at the wrong time. i think it's about to plunge to $38k.

there are only a few that are approved though. SEC failed to approve GBTC and iBTC of BlackRock.

[kryptqnick]

When I read the post at first, I actually didn't believe it at first. It's wonderful that the SEC has finally changed its position, even though just a few days ago a statement like this appeared online and turned out to be a hoax. They approved 11 ETFs, which is also impressive because I thought it would be just one at first. Still, it seems that they just did it because of being under a lot of pressure, but the SEC is still cautious about cryptos as investment. The price experienced a sharp rise up to over $48k on January 11, but that was followed by a drop, and then another one. Maybe it's just an overcorrection for the initial rise.

[Rikafip]

We were led to expect that the price would increase upon SEC approval, but the contrary is now happening. 

Maybe you and other moon boys expected bitcoin to go straight to $100k milestone, but no one rational enough expected anything of that sorts. Everyone knew that ETF approval is right around the corner so it was probably already priced in, therefore no big pump happened. That doesn't of course mean that its not a good news and that it won't affect bitcoin price, just that you shoulnd't hype yourself so much.

What now?

I don't know about you, but I will continue business as usual and that is slowly acquiring more BTC and not caring about the current price.