Spot ETF-induced Bitcoin rally isn’t guaranteed to stick: Analysts

Investors will likely see Bitcoin surge even more when a spot Bitcoin ETF is approved, but other factors are needed for the rally to sustain, warn analysts.) exchange-traded fund will likely spike the price of Bitcoin, some analysts are concerned it won’t be enough to fully thaw the markets from its winter chill.

This is because, in Horses’ view, the trade will be crowded heavily by eager investors looking to chase the news. Tony Sycamore, an analyst at IG international, told Cointelegraph that he expects to see Bitcoin continue to surge through new yearly highs on the day of the announcement, while Rachel Lucas, a technical analyst at Australian crypto exchange BTC Markets, said the approval of BlackRock’s ETF will act as a catalyst for the rest of the traditional finance sector.

Tina Teng, an analyst at CMC markets also believes it would be worthwhile to adopt a more cautious stance, as there’s no guarantee of an all-out trend reversal.

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