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    HomeCrypto Finance

    Spot ETF-induced Bitcoin rally isn’t assured to stay: Analysts

    Crypto Finance
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    Whereas the approval of a spot (BTC) exchange-traded fund (ETF) will doubtless spike the value of Bitcoin, some analysts are involved it received’t be sufficient to totally thaw the markets from its winter chill.

    On Oct. 24 Bitcoin staged its largest single day rally in over a yr, surging greater than 14% on the information that the ticker of BlackRock’s spot Bitcoin ETF — IBTC — had been listed on the Depository Belief & Clearing Company (DTCC) web site, one thing markets understood as a constructive step ahead for the funds’ utility.

    The value of Bitcoin surged to north of $35k on Oct. 24. Supply: TradingView

    Proceed Studying on Cointelegraph

    See also  Solana Skyrockets in Inflows as Bitcoin Bleeds With $643 Million Outflows
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