Posted 11/27/2023, 5:54:21 PM
Crypto Market Poised for Inflows if SEC Approves Spot Bitcoin ETF
- Crypto investors await SEC decision on spot bitcoin ETF approval, which could bring major capital inflows to crypto space
- Analyst Markus Thielen estimates $25B could flow into bitcoin from precious metals ETFs, driving bitcoin price to $57K
- Tailwinds like Fed pausing rate hikes could further boost crypto rally, similar to post-2018 rate hike pause
- Bitcoin previously rallied 182% in 2017 ahead of CME bitcoin futures launch, showing impact of key crypto product launches
- Lower bond yields benefit long-duration assets like tech stocks and crypto; altcoins are repricing like second-tier tech stocks