Posted 1/9/2024, 7:38:53 PM
Bitcoin Primed for Potential Price Boost if ETF Approved After Healthy Correction
- Analysts now believe a Bitcoin ETF approval will boost BTC price rather than trigger a "sell the news" dip
- This outlook changed after last week's big BTC price drop cleared overleveraged long positions
- Last week's dip primed the market to better withstand any remaining "sell the news" pressure
- BTC has already recovered the dip and then some, recently topping $47K for the first time since Spring 2022
- This week in particular could see high BTC price volatility around definitive Bitcoin ETF news