Analysts from K33 Research say the crypto market is fundamentally underappreciating the potential of a spot Bitcoin ETF approval to send crypto prices surging.
the Securities and Exchange Commission — an approval would “attract enormous inflows” and significantly increase buying pressure for Bitcoin.However, the downside of a potential spot ETF rejection would be “negligible” and Bitcoin prices would simply maintain business as usual, they wrote.
Lunde and Helseth added that given the increased likelihood of spot ETF approvals — with several Bloomberg analysts nowwithin the year — the market's outlook on ETFs is fundamentally incorrect. “I firmly believe the market is wrong. This is, by all accounts, a buyer’s market, and it’s reckless not to aggressively accumulate BTC at current levels.”
Bolstering their bullish prediction, the analysts looked to the recent 2% gain in the tech-heavy Nasdaq-100 index, often viewed as an indicator of the broader market's risk appetite.Additionally, Lunde and Helserth shared their optimism for the price of Ether (
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