spot_imgspot_imgspot_img

Spot Bitcoin ETF Week Could Leave Altcoins Struggling: Renowned Analyst Explains!

  • Speculations have risen in the cryptocurrency space following extraordinary price declines recorded in the broad crypto market on Monday.
  • According to Michaël van de Poppe, one of the most renowned crypto market analysts, the reason for the suffering of altcoins today is the upcoming Bitcoin ETF week.
  • The chaos in the prices of some of the most famous cryptocurrencies like ETH, XRP, and SOL, caused by the price drop, could be a sign of market sentiments leaning towards the approval of the Bitcoin ETF.

As updates for Spot Bitcoin ETFs are being made, selling pressure is observed in altcoin prices: What will happen now?

Bitcoin ETFs Could Put Pressure on Altcoins

bitcoin-btc

Speculations have risen in the cryptocurrency space following extraordinary price declines recorded in the broad crypto market on Monday. Notably, the major cryptocurrencies of today traded in the red, leading to various interpretations among crypto market traders and investors.

Interestingly, a well-known crypto market analyst drew attention to the fluctuations occurring in the context of Bitcoin ETF approval by focusing more on today’s crypto market landscape. Meanwhile, the price chart of Bitcoin gained significant attention worldwide today, displaying notable volatility.

According to Michaël van de Poppe, one of the most renowned crypto market analysts, the reason for the suffering of altcoins today is the upcoming Bitcoin ETF week. He also emphasizes that the phenomenon of price decline is occurring as a typical event, noting that the focus is primarily shifting to Bitcoin.

However, according to Poppe, after the ETF, momentum will likely return to altcoins. At the same time, he highlights the current market dynamics of Bitcoin, stating that the range is defined for the token. Additionally, Poppe suggests buying Bitcoin at 10% drops and selling between $48,000 and $51,000. Furthermore, the chaos caused by the price drop in some of the most famous cryptocurrencies like ETH, XRP, and SOL could be a sign of market sentiments leaning towards the approval of the Bitcoin ETF.

Current Status of Bitcoin Price

As of writing, the Bitcoin price chart has shown a 1.6% increase in the last 24 hours and is currently trading at $45,040. However, its weekly price has increased by 5.55%. Additionally, the price chart of Bitcoin exhibited extraordinary price fluctuations today, leading to cryptocurrencies briefly trading in the green. Meanwhile, with the Bitcoin ETF week approaching, the volatility revolving around BTC is mostly anticipated.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news

spot_imgspot_imgspot_imgspot_img

Latest News

Bitcoin Approaches Its Next Halving: Can This Time Be Different?

As Bitcoin nears another halving, the crypto community watches closely, anticipating its potential impact on the market amidst evolving circumstances.

Bitcoin Funding Rate Dips Negative Amid $251M ETF Inflows: A Bearish Signal or Market Resilience?

This article delves into the recent negative turn in Bitcoin's funding rate against a backdrop of significant ETF inflows, exploring whether this signals a bearish trend or underscores the cryptocurrency's resilience.

Massive XRP Transfer Raises Concerns: XRP May Experience Selling Pressure!

The substantial transfers of XRP have garnered attention; will the transfers to Bitso and Bitstamp create selling pressure on XRP?

Uniswap Introduces “uni.eth” Subdomains with ENS Integration: Here are the Details!

Decentralized exchange platform Uniswap has introduced uni.eth subdomains with Ethereum Name Service integration.

Ripple Initiates Collaboration with Zoniqx to Empower Asset Tokenization

Ripple, a leading enterprise blockchain and crypto solutions provider, joins forces with Zoniqx: Here are the details!
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Ethereum Breaks $3K as Rally Continues: What’s Next for ETH?

This article dives into Ethereum's recent surge past $3,000, analyzing the technical indicators and market dynamics driving its ascent and future prospects.

Will Bitcoin Rise To $50,000? Current BTC Analysis

Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 - $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.

Where is the Solana Rise Target? Current SOL Analysis!

Solana is trading near the $108 resistance on the 8-hour chart, with a potential target of $111.84 if it surpasses this level. However, caution is advised in the $111.84 - $117.20 resistance range on the 6-hour timeframe.

Medium Term Ethereum Technical Analysis! What Awaits Its Investors?

When examining the medium-term technical chart of Ethereum, strong buying pressure is observed, pushing the price up from the $2139 support to the $2350 region. However, for the price to sustain its upward movement, it needs to surpass the $2407 resistance.

Can Bitcoin Fall To $35,000 Levels? Current BTC Analysis

When examining Bitcoin's 5-day technical chart, the analysis from January 18 is ongoing, indicating a continued downward movement from the $48,189 level. Bitcoin needs to close 5-day candles above the $44,200 resistance to gain momentum for an upward trend. 
Celal Mutlu
Celal Mutluhttps://coinotag.com/
Celal Mutlu is a young Satoshi reflection at the age of 21. His favorite characters are CZ and Vitalik, and he has a great sense of humor. Celal is a keen follower of developments in the world of cryptocurrency and keeps up with the latest news and trends.
spot_imgspot_imgspot_imgspot_img

Bitcoin Approaches Its Next Halving: Can This Time Be Different?

As Bitcoin nears another halving, the crypto community watches closely, anticipating its potential impact on the market amidst evolving circumstances.

Bitcoin Funding Rate Dips Negative Amid $251M ETF Inflows: A Bearish Signal or Market Resilience?

This article delves into the recent negative turn in Bitcoin's funding rate against a backdrop of significant ETF inflows, exploring whether this signals a bearish trend or underscores the cryptocurrency's resilience.

Massive XRP Transfer Raises Concerns: XRP May Experience Selling Pressure!

The substantial transfers of XRP have garnered attention; will the transfers to Bitso and Bitstamp create selling pressure on XRP?