Bitcoin may stay rangebound even once the drama surrounding the ETF passes, according to the latest BTC price debate.
Bitcoin (BTC) seems unlikely to produce a snap bull market response to the United States Securities and Exchange Commission’s (SEC) approval of a spot Bitcoin exchange-traded fund (ETF) analysis warns.
In a market update on Jan. 10, trading firm QCP Capital acknowledged a lack of upside BTC price volatility.
Bitcoin saw whipsaw price moves overnight as a hacker published a false official approval of the first U.S. spot Bitcoin ETF.
Read more
Source: https://cointelegraph.com/news/bitcoin-etf-may-fail-btc-price-breakout-48k-analysis