Bitcoin Price Spike Driven by Speculation, Not Institutions; Cautious Optimism for Long-Term ETF Impact
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Recent bitcoin price increases are driven by speculation around ETFs by crypto insiders, not fresh institutional capital.
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ETF approval will bring exponential increase in capital accessing bitcoin, but adoption will take years as institutions undergo due diligence.
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Market makers play vital role in building investor confidence by creating/redeeming ETF shares to match asset value.
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ETFs may not directly benefit other crypto assets, but increased bitcoin value can raise portfolios able to diversify into alts.
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ETFs remain speculative, but there's cautious optimism for their impact despite limitations.