As the SEC announced the approval of all Spot Bitcoin ETFs, $BTC remained flat. On the other hand, ethereum (ETH) set off like a rocket ship, gaining more than 10% on the day.
A puzzling outcome
For the casual onlooker observing the crypto market on Wednesday, it could have been rather confusing. A Spot Bitcoin ETF was announced, and $BTC did nothing. A Spot Ethereum ETF might have been announced instead, because $ETH sped skywards directly the news came out.
After Tuesday’s shenanigans, when the SEC X account was compromised and a false approval was announced, $BTC did shoot up to $48,000 before just as quickly plunging back down – a $3,300 move in under an hour.
With the market manipulators now caught out, and their plans laid bare as to how they were going to react to a real approval announcement, when Wednesday’s real news drop did come, $BTC hardly blinked, and the forward looking market instead chose to throw its weight behind ethereum.
$BTC has run its course
From a practica
We współpracy z: https://cryptodaily.co.uk/2024/01/spot-bitcoin-etf-approved-ethereum-eth-rockets
