Crypto Price Prediction: The cryptocurrency market has recently been undergoing a correction phase, accelerated by the Bitcoin price drop below $42,000. This downward trend is largely driven by concerns surrounding the Bitcoin ETF launch, which is perceived as a possible ‘sell-the-news’ event, alongside Grayscale’s liquidation of its Bitcoin holdings.
Despite this, a closer examination using the Fibonacci retracement tool suggests that the current dip for many leading cryptocurrencies remains within a healthy retracement range. This observation hints at the possibility of market participants consolidating their positions, potentially setting the stage for a market rebound.
In a recent development, the U.S. Securities and Exchange Commission (SEC) has recognized proposals from Nasdaq and Cboe to initiate options trading on Bitcoin exchange-traded funds (ETFs).
Bloomberg’s ETF analyst, James Seyffart, has remarked on the surprising swiftness of Nasdaq’s response to this devel
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