Dear Readers,

We all know that ever since the approval of the BTC ETF approval, the price of the Bitcoin in contrast to all our expectations, went down. 

The BTC touched the resistance of 48000 USD and went down to 38500 USD mark and swiftly recovered and moving higher.

Many have even considered BTC would be diving down to 30000 USD mark.

At the time of writing this article BTC trades at 43576 USD, a up of over 3% in the last 24 hours.

The fear greed index stands at 59 as of now, as it is inching more towards to the greed part compared to last week. 

All the major technical indicators are found to be bullish signals for BTC.

A big contributory factor is the inflow of $ 1 billion in USDT by Tether inflow into the crypto market. This has accounted to around $ 13 billion in USDT minted since October 2023 till now. 

As you can understood from the news that BTC ETF bagged the 2nd place surpassing the Silver ETF in US was the power and inflow of the investors in the BTC ETC which in turn attract the investment and demand for BTC. 

The entry of formal and traditional investors into the crypto segment through the new and approved medium of Spot BTC ETFs will strengthen the market spike and to increase the trading volume as well. 

The impact in the BTC ETFs considered to be of value of over $750 million in net inflows into the crypto market ever since their inception of this scheme. It is also projected to have a business over $10 billion annually. 

With major Asset Management Companies that already involve in the BTC ETs would also contribute a lot.

Along with the BTC price increase, it is expected to push the ALT Coin Spike as well. 

It is expected once the BTC halving is over by June 2024, the BTC would be reached a whooping of $170,000. It is predicted by Skybridge Capital’s Anthony Scaramucci with the chart patterns of BTC. 

In contrary to the above statement, Bloomberg's Intelligence and Matrixport expect a 81% increase in the price of BTC that would reach $50,000 in 2024.

However, the post period of bitcoin Halving Process, the general elections in the US and in other 60+ countries in the world, the anticipated inflow both from the-  Trade-Fi, the convergence of traditional finance and crypto and the Real World Assets would help the crypto market to sustain and move to newer heights in the days to come.