Expert Analysts: "Last Night's Events Are A Warning For Bitcoin"

Events that occurred last night created excitement in the Bitcoin market. Following a fake post on the SEC’s official Twitter account that spot ETFs were approved, Bitcoin prices quickly rose to $48,000. However, after the truth came out, the cryptocurrency fell back below $46,000.

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Bitcoin Price Commentary from Expert Analysts

Analysts at QCP Capital say the incident could be a warning sign for Bitcoin. According to their analysis, the rally that would occur if the SEC approves spot ETFs is not yet fully felt in the market. “The initial reactions to the approval decision were limited and BTC did not break through the resistance zone. We see this as a warning sign that the approval decision has already been priced in and that there may not be a major rally after the decision is made,” they say.

The SEC is expected to make a final decision on the Ark 21Shares ETF today. Analysts believe it is likely that ETFs will be approved. According to QCP Capital analysis, option volumes could fall after the SEC decision. The resistance point is set at $48,500, while the support point is set at $40,000 – $42,000.

As Bitcoin investors await the SEC’s decision on ETF approval, the market is likely to continue to fluctuate. According to analysts, there are important points to be considered during this process.

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