Was bitcoin’s latest surge just a last fling before sinking lower, or does it have the legs to continue on upwards?
Just a narrative pump?
Some analysts and commentators would have us believe that there just isn’t the market order flow for any sustained moves, and it must be said that volume is quite low, having been so since late March.
A short term relief rally to the upside?
Is everyone just FOMOing in because of all the new ETF filings which began with Blackrock’s Spot Bitcoin ETF application of just a week ago and then the subsequent Fidelity, Wisdom Tree, Invesco, and Valkyrie filings, and then the Wall Street-backed EDX Markets?
This is likely the case. Bitcoin and crypto haven’t had much to shout about for quite a while so the perceived positive news here does look to be responsible for the price action, and perhaps it’s just a matter of time before the ETF narrative starts to die down.
Also, could it be that the traditional institutions are coordinating with the SEC
We współpracy z: https://cryptodaily.co.uk/2023/06/will-the-crypto-rally-continue
