In a recent series of tweets, Vetle Lunde, Senior Analyst at K33 Research, delved deep into the potential ramifications of the US Bitcoin (BTC) spot ETFs. Lunde’s analysis suggests that the broader market might be significantly underestimating the transformative power of these financial instruments.
Lunde’s assertion is rooted in five core reasons. He began with a bold proclamation: “The market is wrong – and dramatically underestimates the impact of US BTC ETFs (and ETH futures-based ETFs).”
Why The Market Is Wrong On Bitcoin
Firstly, Lunde believes that the current climate is ripe for the approval of US spot ETFs, suggesting that the odds have never been more favorable. As NewsBTC reported, Bloomberg experts Eric Balchunas and James Seyffart recently raised their Bitcoin spot ETF approval odds following the Grayscale judgment to 75% this year, 95% by the end of 2024.
Secondly, Lunde pointed out that BTC price has retraced to pre-BlackRock announcement levels. The third rea
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