Bitcoin price rises after the introduction of spot Bitcoin ETFs

Bitcoin price rises after the introduction of spot Bitcoin ETFs

According to a report from www.finanzen.net,

The price of the largest cryptocurrency by market capitalization, Bitcoin, has been more or less in freefall for two weeks following the launch of spot Bitcoin ETFs. From $48,500, the price fell by $10,000 until the bulls returned in the $38,500 area. Now Bitcoin also showed strength over the weekend, although the price tends to decline slightly, especially on Sundays. With the $42,000 mark now exceeded, everything seems to be possible again and next week could bring several developments that could push the price closer to the $50,000 mark. Potential buyers of Bitcoin ETFs will also be happy to see that the price is rising significantly for the first time since its introduction and the correction has ended.

As a financial expert, you pay close attention to the latest developments in the cryptocurrency market. The launch of Spot Bitcoin ETFs has led to a massive Bitcoin sell-off at Grayscale, with more than 100,000 BTC sold on behalf of its customers. Since the price is now rising significantly again, this could prevent other investors from selling their shares. In principle, it can be expected that the selling pressure will slowly be reduced, even if the company still holds more than 500,000 BTC via the ETF.

The US Federal Reserve's interest rate decision next week is also expected. The Fed is predicted to cut interest rates, which may have a positive impact on the crypto market. With lower interest rates, safer asset classes become less attractive and at the same time risk capital for assets like Bitcoin becomes looser.

Furthermore, the Bitcoin halving, which takes place every 4 years and leads to massive price increases, is getting closer and closer. Bitcoin's popularity continues to rise from one halving to the next, each time creating the potential for even more FOMO than in previous cycles. With each day that the halving gets closer, the mood in the market continues to heat up.

All in all, the chances seem to be good that there could be further gains for Bitcoin in the next week, with perhaps even the $50,000 mark being at least targeted. Further information about Bitcoin Minetrix as a new altcoin, which impresses with its unique stake to mine concept, also suggests that higher profits than Bitcoin are possible.

Investing is speculative and involves risks. Investors should therefore carry out their own due diligence and be well informed before investing.

Please note that the above information is purely speculative and does not constitute investment advice. Interested investors should seek individual, detailed advice before deciding to invest.