{"id":569449,"date":"2024-01-14T08:14:07","date_gmt":"2024-01-14T08:14:07","guid":{"rendered":"https:\/\/wncen.com\/?p=569449"},"modified":"2024-01-14T11:31:50","modified_gmt":"2024-01-14T11:31:50","slug":"etf-frenzy-bitcoin-takes-a-dip-ethereum-goes-hot-and-the-next-crypto-chapter","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/etf-frenzy-bitcoin-takes-a-dip-ethereum-goes-hot-and-the-next-crypto-chapter\/","title":{"rendered":"Buy Low, Sell High? Bitcoin Wobbles As ETF Fever Cool Downs"},"content":{"rendered":"

In a week etched in crypto history, the long-awaited arrival of Bitcoin ETFs in the US sent shockwaves through the market. Yet, despite the monumental achievement, the king of crypto, Bitcoin, took a step back<\/a> on Saturday, dipping 6% to end the week barely above $43,000.<\/p>\n

Many analysts predicted a “sell-the-news” scenario, where investors cashed in on profits built upon anticipation of the ETF approval. Others suggest a rotation into Ethereum, which surged 15% on the week and touched highs not seen since May 2022.<\/p>\n

Related Reading: Ethereum Eclipses Bitcoin In A Crypto Coup: Has The King Been Dethroned?<\/a><\/div>\n

Ethereum ETF Speculation: Shaping Crypto Narratives<\/strong><\/h2>\n

This speculation is fueled by expectations of imminent Ethereum ETF decisions from the SEC, potentially mirroring the winds that propelled Bitcoin towards a 60% rally in recent months.<\/p>\n

According to Alex Saunders, a Citi analyst, the cryptocurrency market has transitioned to a new narrative, as Ethereum has outperformed Bitcoin<\/a>. This surge is believed to be driven by anticipation that the second-largest cryptocurrency could receive approval for an ETF.<\/p>\n

\n

“In our view, the crypto market has already moved to the next narrative, with ETH rallying more than bitcoin, likely on the expectation that crypto’s second largest token could also see an ETF approval,” Saunders said.<\/h4>\n<\/blockquote>\n

While the immediate price action might paint a contrasting picture, the significance of the ETF launch for Bitcoin’s long-term trajectory remains undeniable. Market participants across the board agree that ETFs will pave the way for increased institutional adoption, a crucial step towards legitimizing Bitcoin as a serious asset class.<\/p>\n

Bitcoin slightly below the $43K level today. Chart: TradingView.com<\/a><\/pre>\n
Analysts at Citi anticipate “extra prominence” for Bitcoin in diversified portfolios, although widespread inclusion is still some distance away.<\/p>\n
The road to crypto acceptance, however, isn’t paved solely with Bitcoin. Litecoin, often dubbed “silver to Bitcoin’s gold,” emerged as another bright spot this week, on track for an impressive 11% gain. This signifies diversification within the crypto landscape, a trend likely to continue with the potential influx of other crypto ETFs.<\/p>\n
\"\"BTC 24-hour price action. Source: Coingecko<\/pre>\n
Crypto Equities Shake Amidst Bitcoin’s Slide<\/strong><\/h2>\n
Beyond the digital coins themselves, the news wasn’t as rosy for crypto-related equities and miners. Coinbase and MicroStrategy, heavily invested in Bitcoin, took tumbles of 6% and 8%, respectively. Miners, already on the back foot after suffering substantial losses on Thursday, extended their descent, with CleanSpark and Iris Energy experiencing double-digit drops.<\/p>\n
Related Reading: Bitcoin Retreats: ETF Dream Fades, Price Tumbles Under $42,000<\/a><\/div>\n
This market snapshot illustrates the dynamic nature of the crypto ecosystem. While Bitcoin might have taken a breather after its historic week, the overall sentiment remains positive. Ethereum’s ascent and the anticipation of broader ETF access signal a shift in investor focus, suggesting a future where the crypto playing field isn’t solely Bitcoin’s domain.<\/p>\n
The dust settles on Bitcoin’s ETF debut, leaving a wobbly king and a market yearning for the next narrative. Ethereum, bathed in its own ETF hopes, gleams like a challenger. In this dance of highs and lows, understanding the evolving stories matters more than chasing fleeting profits. Bitcoin’s wobble may yet be a prelude to a high-flying future. The crypto saga, after all, has only just begun.<\/p>\n
Featured image from Shutterstock<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
In a week etched in crypto history, the long-awaited arrival of Bitcoin ETFs in the US sent shockwaves through the market. Yet, despite the monumental achievement, the king of crypto, Bitcoin, took a step back on Saturday, dipping 6% to end the week barely above $43,000. Many analysts predicted a “sell-the-news” scenario, where investors cashed in on profits built upon anticipation of the ETF approval. Others suggest a rotation into Ethereum, which surged 15% on the week and touched highs not seen since May 2022. Related Reading: Ethereum Eclipses Bitcoin In A Crypto Coup: Has The King Been Dethroned? Ethereum ETF Speculation: Shaping Crypto Narratives This speculation is fueled by expectations of imminent Ethereum ETF decisions from the SEC, potentially mirroring the winds that propelled Bitcoin towards a 60% rally in recent months. According to Alex Saunders, a Citi analyst, the cryptocurrency market has transitioned to a new narrative, as Ethereum has outperformed Bitcoin. This surge is believed to be driven by anticipation that the second-largest cryptocurrency could receive approval for an ETF. “In our view, the crypto market has already moved to the next narrative, with ETH rallying more than bitcoin, likely on the expectation that crypto’s second largest token could also see an ETF approval,” Saunders said. While the immediate price action might paint a contrasting picture, the significance of the ETF launch for Bitcoin’s long-term trajectory remains undeniable. Market participants across the board agree that ETFs will pave the way for increased institutional adoption, a crucial step towards legitimizing Bitcoin as a serious asset class. Bitcoin slightly below the $43K level today. Chart: TradingView.com Analysts at Citi anticipate “extra prominence” for Bitcoin in diversified portfolios, although widespread inclusion is still some distance away. The road to crypto acceptance, however, isn’t paved solely with Bitcoin. Litecoin, often dubbed “silver to Bitcoin’s gold,” emerged as another bright spot this week, on track for an impressive 11% gain. This signifies diversification within the crypto landscape, a trend likely to continue with the potential influx of other crypto ETFs. BTC 24-hour price action. Source: Coingecko Crypto Equities Shake Amidst Bitcoin’s Slide Beyond the digital coins themselves, the news wasn’t as rosy for crypto-related equities and miners. Coinbase and MicroStrategy, heavily invested in Bitcoin, took tumbles of 6% and 8%, respectively. Miners, already on the back foot after suffering substantial losses on Thursday, extended their descent, with CleanSpark and Iris Energy experiencing double-digit drops. Related Reading: Bitcoin Retreats: ETF Dream Fades, Price Tumbles Under $42,000 This market snapshot illustrates the dynamic nature of the crypto ecosystem. While Bitcoin might have taken a breather after its historic week, the overall sentiment remains positive. Ethereum’s ascent and the anticipation of broader ETF access signal a shift in investor focus, suggesting a future where the crypto playing field isn’t solely Bitcoin’s domain. The dust settles on Bitcoin’s ETF debut, leaving a wobbly king and a market yearning for the next narrative. Ethereum, bathed in its own ETF hopes, gleams like a challenger. In this dance of highs and lows, understanding the evolving stories matters more than chasing fleeting profits. Bitcoin’s wobble may yet be a prelude to a high-flying future. The crypto saga, after all, has only just begun. Featured image from Shutterstock<\/p>\n","protected":false},"author":557,"featured_media":569462,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[532,6047,1119,1144,6664,8686],"class_list":["post-569449","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin-etf","tag-bitcoin-price-action","tag-btc","tag-btcusd","tag-crypto","tag-ethusd"],"acf":[],"yoast_head":"\nBuy Low, Sell High? Bitcoin Wobbles As ETF Fever Cool Downs<\/title>\n<meta name=\"description\" content=\"In a week etched in crypto history, the long-awaited arrival of Bitcoin ETFs in the US sent shockwaves through the market. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Buy Low, Sell High? 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