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Bitcoin’s $100,000 Dream On Hold: Will the Post-ETF Sell-Off Crush Hopes?

WEN $100,000 Bitcoin?
WEN $100,000 Bitcoin?

The long-awaited green light for Bitcoin spot ETFs has arrived, but where’s the promised moon landing? Despite the excitement surrounding regulatory approval, Bitcoin’s price chart paints a less euphoric picture. Hovering between $47,925 and $44,748, the world’s leading cryptocurrency seems stuck in neutral, leaving many to wonder – when will we see that coveted six-figure mark?

Institutional Skepticism Meets Technical Realities: While the ETF approval undoubtedly paves the way for increased institutional participation, whispers of immediate market surges seem exaggerated. Nick points to the daily timeframe, where higher highs and lows are indeed present, but overlapping candlesticks hint at a potential short-term correction.

Crucial Levels to Watch: With the short-term outlook clouding, understanding key support levels becomes crucial. The 50 EMA and 50 SMA will act as initial lines of defense, while the 200 EMA at $34,636 serves as a critical lifeline. Additionally, “smart money” concepts highlight fair value gaps and potential support zones between $30,000-$33,000 and $35,000-$36,500.

Sell-Off Warning Bells: Market history casts a cautious shadow on the post-ETF euphoria. Events like the Coinbase IPO and Futures ETF, both celebrated milestones, were followed by periods of price decline roughly four weeks later. This potential sell-off, while concerning in the short to medium term, shouldn’t dampen long-term optimism.

Corrections Can Fuel Future Slingshots: Market corrections are essential for long-term stability, allowing the fundamentals to catch up with expectations. Once the dust settles, a healthy Bitcoin landscape could experience significant surges powered by the influx of new money and institutional investments.

Turbulence Ahead, But Don’t Lose Sight of the Horizon: Expect the first three months post-ETF approval to be bumpy, with potential dips and sideways action. However, Q1 of the Bitcoin halving could unleash a new wave of momentum, attracting further institutional players and pushing Bitcoin closer to those elusive six-figure heights.

For an in-depth dive into Q1 predictions and the impact of the Bitcoin halving, check out

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