empty
11.01.2024 02:20 PM
Start of BTC-ETF trading and alarming forecast for CPI: what to expect from Bitcoin?

The long saga of approving spot BTC-ETFs, whose intense phase lasted over two months, concluded with a statement from the SEC approving all applications. Despite the weak reaction of the BTC/USD quotes to this event, a significant increase in trading activity and renewal of absolute highs should be expected in the medium and short term. However, there are reasons for concern regarding the short-term prospects.

This image is no longer relevant

Apart from the classic overheating of Bitcoin and the fact that the absolute majority of BTC coins are in profit, fundamental market sentiments have declined. This is primarily due to changes in priorities and expectations regarding the Federal Reserve's policy. There is a high probability that investors and traders have overestimated their expectations, which may now lead to the start of a local correction, including in the cryptocurrency market.

Inflation Data

Today at 13:30 GMT, a publication of a key macroeconomic factor will take place, which will significantly influence the Fed's decision at the end of January. Investors' opinions are divided regarding the report reflecting the change in the consumer price index for December 2023. Traders and market makers suggest that inflation in the USA may accelerate relative to November, returning to the 3.2% mark. This could be a reason that prompts the Fed to delay the start of easing monetary policy.

This image is no longer relevant

According to the CME FedWatch Tool, only 2.6% of investors and traders are confident that the Fed may lower the interest rate at the meeting on January 31st. Meanwhile, another pause in raising the rate is no longer perceived by investors as a positive signal, as the markets expect the beginning of a cycle of easing monetary policy. Considering this fact, Bitcoin and other investment assets are under increased pressure from sellers.

This image is no longer relevant

However, there is every reason to believe that the situation may change if inflation falls below the 3.0% mark, restoring hope for a faster start to the Fed's easing of monetary policy. The current CPI forecasts are among the most uncertain, so heightened volatility is expected in the markets. Considering the start of BTC-ETF trading, a real storm is expected in the Bitcoin market today.

First Day of BTC-ETF Trading

The SEC published a document stating that the regulator approved applications for the launch of spot BTC-ETFs from ARK, 21Shares, Bitwise, BlackRock, IBTC, Fidelity, Franklin, Grayscale, Hashdex, Invesco Galaxy, VanEck, Valkyrie, and WisdomTree. Today, January 11th, marks the start of ETF trading, so it is quite likely that liquidity volumes and volatility in the BTC market will significantly increase. From today, banks, investment and pension funds, and other institutional investors can invest in Bitcoin.

This image is no longer relevant

Despite the overall positivity, SEC Chairman Gary Gensler noted that the approval of the ETFs does not change the regulator's attitude towards other cryptocurrencies and their status. The Commission will also investigate any fraud or manipulation in the securities markets, including BTC-ETFs. Concluding, Gensler remarked that despite the approval of spot BTC-ETFs, the regulator does not support or endorse Bitcoin as a cryptocurrency.

BTC/USD Analysis

The last few days have been maximally volatile for Bitcoin, leading to the liquidation of traders' positions. By the end of yesterday, the asset tested a new high at $47.6k, then dropped to $44.3k. Bitcoin ended the trading day above the $46.5k level. As of January 11th, the cryptocurrency is trading near the $46.3k level with daily trading volumes around $52 billion.

This image is no longer relevant

Despite the conclusion of the saga with the approval of spot BTC-ETF, the market remains highly volatile, increasing the chance of price manipulation by market makers. Additionally, the positive impact of the approval of the spot crypto product may be overshadowed by the resurgence of inflation in the USA, pushing expectations for the start of monetary policy easing to the second half of 2024.

Conclusions

Leading crypto analysts and financiers have called the approval of spot BTC-ETFs a turning point for the crypto economy. The saturation of the market with liquidity will reduce its volatility and susceptibility to manipulation, which, in turn, will significantly increase its investment attractiveness. Also, the BTC halving will begin in April, providing additional support to the asset's quotes, leading to significant growth in capitalization and renewing its high above $70k.

Pilih carta masa
5
min
15
min
30
min
1
jam
4
jam
1
hari
1
minggu
Jana pendapatan melalui perubahan kadar mata wang kripto dengan InstaForex.
Muat turun MetaTrader 4 dan buka dagangan pertama anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    SERTAI PERADUAN

Artikel yang dicadangkan

Analisis Teknikal Pergerakan Harga Harian Mata Wang Kripto Bitcoin, Jumaat 21 Mac 2025.

Dengan kemunculan Perbezaan antara pergerakan harga Bitcoin dengan penunjuk Stochastic Oscillator dan corak Bullish 123 diikuti oleh Bullish Ross Hook (RH)), dalam masa terdekat Bitcoin berpotensi untuk menguji tahap 86611.34

Arief Makmur 06:18 2025-03-21 UTC+2

Analisis Teknikal Pergerakan Harga Intraday Matawang Kripto Ripple, Jumaat 21 Mac 2025.

Jika kita melihat carta 4 jam bagi mata wang kripto Ripple, kelihatan terdapat Perbezaan antara pergerakan harga Ripple dan penunjuk Pengayun Stochastic serta kemunculan corak 123 Menaik yang diikuti oleh

Arief Makmur 06:18 2025-03-21 UTC+2

Bitcoin mensasarkan untuk mencecah $90,000

Susulan mesyuarat Rizab Persekutuan semalam, di mana bank pusat kehabisan hujah kukuh untuk mengekalkan kadar faedah pada paras tinggi, Bitcoin dan Ethereum telah menyambung semula pergerakan menaik mereka. Walaupun

Jakub Novak 09:32 2025-03-20 UTC+2

Cadangan Dagangan untuk Pasaran Kriptowang pada 20 Mac

Bitcoin dan Ethereum telah mengalami peningkatan selepas mesyuarat Rizab Persekutuan semalam, yang menunjukkan bahawa kadar faedah mungkin perlu diturunkan. Tidak kira berapa lama Fed berhasrat untuk mengekalkan dasar monetari yang

Miroslaw Bawulski 08:22 2025-03-20 UTC+2

Cadangan Dagangan untuk Pasaran Mata Wang Kripto pada 19 Mac

Bitcoin dan Ethereum menghadapi cabaran sekali lagi selepas penjualan baru-baru ini di pasaran saham AS, tetapi pembeli dan pemain utama sekali lagi menunjukkan kekuatan mereka dengan membeli semua pergerakan penurunan

Miroslaw Bawulski 09:01 2025-03-19 UTC+2

Cadangan Dagangan untuk Pasaran Mata Wang Kripto pada 18 Mac

Pembeli Bitcoin dan Ethereum berusaha untuk mencapai pertumbuhan yang lebih ketara, dan seketika, pasaran yang menaik mungkin mendapat harapan untuk kembali. Walau bagaimanapun, mereka tidak dapat mempertahankan paras tertinggi yang

Miroslaw Bawulski 08:00 2025-03-18 UTC+2

Bitcoin dan Ethereum Bergelut untuk Bertahan

Bitcoin dan Ethereum terus berusaha untuk meningkat, walaupun menghadapi kesukaran setiap kali. Namun, peluang untuk kembali ke pasaran menaik masih agak tinggi. Selepas kejatuhan ketara ke sekitar $82,000, Bitcoin telah

Jakub Novak 09:32 2025-03-17 UTC+2

Analisis Teknikal Pergerakan Harga Harian Cryptocurrency Uniswap, Jumaat 14 Mac 2025.

Dari apa yang dilihat pada carta 4-jam bagi mata wang kripto Uniswap, walaupun kini masih berada di bawah tekanan, ia ditunjukkan oleh pergerakan harga yang bergerak di bawah EMA (21)

Arief Makmur 07:03 2025-03-14 UTC+2

Analisis Teknikal Pergerakan Harga Intraday Matawang Kripto Doge, Jumaat 14 Mac 2025

Dengan kemunculan penumpuan antara pergerakan harga mata wang kripto Doge dan penunjuk Pengayun Stochastic, ia memberikan isyarat bahawa dalam masa terdekat, Doge berpotensi untuk mengukuh ke arah atas, di mana

Arief Makmur 07:03 2025-03-14 UTC+2

Cadangan Dagangan untuk Pasaran Kripto pada 13 Mac

Bitcoin dan Ethereum dikunci dalam saluran baru. Di sebelah positifnya, tekanan jual yang kuat yang diperhatikan pada permulaan minggu telah berkurang. Namun, terdapat kebimbangan mengenai potensi pertumbuhan lanjut Bitcoin, memandangkan

Miroslaw Bawulski 08:05 2025-03-13 UTC+2
Tidak boleh bertanya sekarang?
Tanya soalan anda di Ruangan bersembang.
Panggilan semula Widget
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.