Analyst Surprised Bitcoin (BTC) Above $28K After ETF 'Debacle'

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Despite the current outlook, van de Poppe said he is still expecting the event of the past 24 hours to form a"buy the dip" season. In his estimation, the coin should correct to $27,300 to $27,700, at which point he expects there to be enough buyers. Still expecting it to be 'Buy the Dip' season, through which I assume that, if we reach $27,300/$27,700 you'd be a buyer.The current surge is indicative that, at least in the short term, BTC buyers are more optimistic and interested in"buying the news."

The rally that trailed the false news has generated a lot of positive comments, with some market experts noting that the short-lived rally is an indication of what will happen if the SEC eventually approves a Bitcoin spot ETF. Many top investment and financial institutions are in the race to get their Bitcoin spot ETF applications approved. Besides, BlackRock, Invesco, WisdomTree and Bitwise are also in the race for the product. Bernstein analysts Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0.

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