Bitcoin Rebounds After Flash Crash; SEC Spot BTC ETF Approval Seen as Imminent
• Bitcoin rebounded above $44K after a 10% flash crash on Wednesday amid optimism that SEC approval of a spot BTC ETF is imminent
• A survey showed only 39% of financial advisors expect a bitcoin ETF approval this year, but 88% would be interested in buying BTC if approved
• Sources "extremely close to the matter" suggest the SEC will soon approve multiple spot bitcoin ETF applications
• Matrixport predicts that after bitcoin ETFs are approved, investor focus will switch to ether and Ethereum-based ETFs, likely by May
• Matrixport still expects eventual approval of spot BTC ETFs but warns bitcoin could fall to lower prices in coming weeks as technical indicators weaken