Most recent massive Bitcoin rally has numerous reasons behind it, and ETF is not only factor pushing digital gold upward
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As the BTC spot price inches upward, there are notable shifts in the derivatives landscape. Perp funding, term forward, as illustrated in Chart 2, along with implied volatility and risk reversals shown in Chart 3, are hitting or maintaining high levels. Those betting on the surge implied by these derivatives are now eagerly awaiting the green light for the spot ETF.and Apple on the horizon, along with the Non-Farm Payrolls data release, the market is poised for potential volatility.
However, it is essential to exercise caution and reflection. QCP Research emphasizes the critical role of spot ETF approval, signaling a significant upward trajectory for Bitcoin. On the flip side, a drastic move from Gensler could send us spiraling back to sub-32K levels.Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future.
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