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Bitcoin ETF Decision Looms! BTC Moves Up! The upcoming decision day for Bitcoin ETF applications and Goldman Sachs’ 2024 Crypto Predictions have created volatility in the crypto market, pushing Bitcoin above $45,000. Besides, major altcoins also rose in tandem with Bitcoin’s rally.
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Mathew McDermott, head of digital assets at Goldman Sachs, notes that the liquidity in the market would expand and deepen if a Bitcoin ETF is approved. The expectation that the U.S. Securities and Exchange Commission (SEC) will approve a number of Bitcoin ETF applications this week pushed Bitcoin’s price above $45,000.
McDermott also expresses that the approval of a BTC ETF would attract institutional investors, which would grow the market. Also, the excitement in the market is growing with the conclusion of the BTC spot ETF race launched by BlackRock. According to Charles Gasparino, BlackRock plans to make the announcement by the end of the weekend.
According to Forbes’ CryptoAsset & Blockchain Advisor, with these developments, Bitcoin is likely to be one of the best-performing assets of the year.
The crypto market is entering an important period with Bitcoin’s historic halving and ETF applications. Investors and traders should closely follow market news to keep up with this dynamic change.