{"id":564337,"date":"2023-12-07T14:00:19","date_gmt":"2023-12-07T14:00:19","guid":{"rendered":"https:\/\/wncen.com\/?p=564337"},"modified":"2024-06-11T09:06:55","modified_gmt":"2024-06-11T09:06:55","slug":"bitcoin-spot-etfs-ath","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-spot-etfs-ath\/","title":{"rendered":"Can Bitcoin Spot ETFs Attract Enough Capital? Experts On What Will Lead To ATH"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Trading firm QCP Capital has shared its thoughts on what could drive the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-short-term-holders-4-5-profits-nov-2021\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">flagship cryptocurrency, Bitcoin<\/span><\/a><span style=\"font-weight: 400\">, to its all-time high (ATH) of $69,000. From their analysis, <\/span><a href=\"https:\/\/bitcoinist.com\/sec-demands-spot-bitcoin-etf-kill-switch-experts\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Spot Bitcoin ETFs<\/span><\/a><span style=\"font-weight: 400\"> have a huge role to play in all of this.\u00a0<\/span><\/p>\n<h2>Bitcoin Hitting $69,000 Dependent On Spot BTC ETFs<\/h2>\n<p><span style=\"font-weight: 400\">QCP Capital <\/span><a href=\"https:\/\/t.me\/QCPbroadcast\/1110\" rel=\"nofollow\"><span style=\"font-weight: 400\">stated<\/span><\/a><span style=\"font-weight: 400\"> that revisiting its ATH of $69,000 will depend on the \u201cgenuine flows the actual ETF will bring in the first few weeks of trading.\u201d If <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-spot-etf-three-years\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">the inflows<\/span><\/a><span style=\"font-weight: 400\"> are below par, the trading firm noted that it could set things up for the <\/span><a href=\"https:\/\/bitcoinist.com\/spot-bitcoin-etf-approval-sell-the-news-event\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">classic \u2018sell-the-news\u2019 moment<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-price-pump-to-0-7\/\">Crypto Analyst Predicts Dogecoin Price Pump Of Epic Proportions To $0.7, Here\u2019s When<\/a><\/div>\n<p><span style=\"font-weight: 400\">This assumption seems to stem from their belief that the news could already be priced in. They highlighted how Bitcoin has so far enjoyed incredible gains on the back of optimism that the SEC is going to approve these Spot Bitcoin ETFs. Bitcoin has already risen to as high as $45,000 this month and is said to be up 15% MTD in the first week.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">With this in mind, QCP Capital is conscious of the fact that investors are most likely already positioned for an approval order by the SEC. If that is the case, Bitcoin and the broader crypto market will need something else to sustain this bullish momentum. That is why the trading firm has singled out <\/span><a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-spot-etf-70-billion\/\"><span style=\"font-weight: 400\">liquidity flowing<\/span><\/a><span style=\"font-weight: 400\"> into these Spot Bitcoin ETFs as being key.<\/span><\/p>\n<p><a href=\"https:\/\/bitcoinist.com\/economist-us-dollar-bitcoin\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Renowned Economist Peter Schiff<\/span><\/a><span style=\"font-weight: 400\"> had previously warned of a possible sell-the-news event when he <\/span><a href=\"https:\/\/bitcoinist.com\/spot-bitcoin-etf-approval-sell-the-news-event\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">mentioned<\/span><\/a><span style=\"font-weight: 400\"> that Bitcoin is unlikely to rally again once a Spot BTC ETF is approved. That is because he believes that the current Bitcoin rally is a result of many already \u2018buying the rumor.\u2019 As such, once approval comes, the next thing could be these \u2018investors selling the news.\u2019<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/h9TsknCM\/\" alt=\"Bitcoin price chart from Tradingview.com\" width=\"2650\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">BTC price recovers from flash crash | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/pre>\n<h2>Capital Expected To Flow Into These Spot BTC ETFs<\/h2>\n<p><span style=\"font-weight: 400\">There is reason to believe that <\/span><a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-spot-etf-300-surge\/\"><span style=\"font-weight: 400\">enough liquidity<\/span><\/a><span style=\"font-weight: 400\"> will flow into these Spot Bitcoin ETFs and the Bitcoin ecosystem to sustain the current market rally. Crypto research firm Galaxy Digital <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-spot-etf-three-years\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">once published a report<\/span><\/a><span style=\"font-weight: 400\"> that stated that these funds could see $14 billion of inflows in the first year of launch.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/altcoin\/crypto-top-8-altcoins-binance\/\">Crypto Expert Delivers Top 8 Altcoins To Buy On Binance<\/a><\/div>\n<p><span style=\"font-weight: 400\">Specifically, Galaxy Digital estimates that these funds will see an adjusted inflow of over $10 billion in their first month. These inflows should be enough to sustain Bitcoin\u2019s rally as the research firm projects that Bitcoin\u2019s price could see a <\/span><a href=\"https:\/\/bitcoinist.com\/crypto-leaders-bitcoin-at-100000-by-2024\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">74.1% increase<\/span><\/a><span style=\"font-weight: 400\"> in the first year of these funds launching.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, Blockchain analytics firm Glassnode is of the opinion that an approval order by the SEC will bring in a substantial influx of investors. They <\/span><a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-spot-etf-70-billion\/\"><span style=\"font-weight: 400\">predict that about $70.5 billion<\/span><\/a><span style=\"font-weight: 400\"> could flow into Bitcoin due to increased demand from institutional investors.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Easy Crypto, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Trading firm QCP Capital has shared its thoughts on what could drive the flagship cryptocurrency, Bitcoin, to its all-time high (ATH) of $69,000. From their analysis, Spot Bitcoin ETFs have a huge role to play in all of this.\u00a0 Bitcoin Hitting $69,000 Dependent On Spot BTC ETFs QCP Capital stated that revisiting its ATH of $69,000 will depend on the \u201cgenuine flows the actual ETF will bring in the first few weeks of trading.\u201d If the inflows are below par, the trading firm noted that it could set things up for the classic \u2018sell-the-news\u2019 moment.\u00a0 Related Reading: Crypto Analyst Predicts Dogecoin Price Pump Of Epic Proportions To $0.7, Here\u2019s When This assumption seems to stem from their belief that the news could already be priced in. They highlighted how Bitcoin has so far enjoyed incredible gains on the back of optimism that the SEC is going to approve these Spot Bitcoin ETFs. Bitcoin has already risen to as high as $45,000 this month and is said to be up 15% MTD in the first week.\u00a0 With this in mind, QCP Capital is conscious of the fact that investors are most likely already positioned for an approval order by the SEC. If that is the case, Bitcoin and the broader crypto market will need something else to sustain this bullish momentum. That is why the trading firm has singled out liquidity flowing into these Spot Bitcoin ETFs as being key. Renowned Economist Peter Schiff had previously warned of a possible sell-the-news event when he mentioned that Bitcoin is unlikely to rally again once a Spot BTC ETF is approved. That is because he believes that the current Bitcoin rally is a result of many already \u2018buying the rumor.\u2019 As such, once approval comes, the next thing could be these \u2018investors selling the news.\u2019 BTC price recovers from flash crash | Source: BTCUSD on Tradingview.com Capital Expected To Flow Into These Spot BTC ETFs There is reason to believe that enough liquidity will flow into these Spot Bitcoin ETFs and the Bitcoin ecosystem to sustain the current market rally. Crypto research firm Galaxy Digital once published a report that stated that these funds could see $14 billion of inflows in the first year of launch.\u00a0 Related Reading: Crypto Expert Delivers Top 8 Altcoins To Buy On Binance Specifically, Galaxy Digital estimates that these funds will see an adjusted inflow of over $10 billion in their first month. These inflows should be enough to sustain Bitcoin\u2019s rally as the research firm projects that Bitcoin\u2019s price could see a 74.1% increase in the first year of these funds launching.\u00a0 Meanwhile, Blockchain analytics firm Glassnode is of the opinion that an approval order by the SEC will bring in a substantial influx of investors. They predict that about $70.5 billion could flow into Bitcoin due to increased demand from institutional investors. Featured image from Easy Crypto, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":564351,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,86326,1119,89185,1122,1144,78790,1944,89193],"class_list":["post-564337","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-spot-etf","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-etf","tag-etf-news"],"acf":[],"yoast_head":"\n<title>Can Bitcoin Spot ETFs Attract Enough Capital? 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Can Bitcoin Spot ETFs Attract Enough Capital? 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