{"id":51446,"date":"2021-10-19T16:58:04","date_gmt":"2021-10-19T13:58:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=51446"},"modified":"2025-09-02T23:45:24","modified_gmt":"2025-09-02T20:45:24","slug":"analysts-split-on-the-impact-of-bitcoin-etf-launch","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/analysts-split-on-the-impact-of-bitcoin-etf-launch\/","title":{"rendered":"Analysts Split on the Impact of Bitcoin ETF Launch"},"content":{"rendered":"

The launch of Bitcoin ETF trading by ProShares<\/a> could trigger profit-taking as expectations are realised. Not all experts are convinced that, if the first cryptocurrency-based instrument is approved, the adage will hold.<\/p>\n

One of the axiom’s proponents, Dan Morehead<\/a> asked for a reminder of the upcoming event a day in advance so that he ‘took a few chips off the table.’ The CEO of Pantera Capital is convinced the adage certainly works in the crypto space.<\/p>\n

He cited two past events that triggered the market wisdom: the launch of Bitcoin futures on the CME and Coinbase going public. In the first case, digital gold subsequently fell by 83%, in the second by 54%.<\/p>\n

After a prolonged contraction of exchange balances, momentum has shifted to a neutral stance. In the last 30 days inflows were roughly matched by outflows, noted<\/a> in Glassnode’s latest report.<\/p>\n

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\u201cThis aligns with the expectation that once Bitcoin ETF trading begins, we will likely see a sell-off. You move cryptocurrency onto exchanges […] when you plan to use that liquidity,\u201d<\/em> \u2014 analyst Nick Mancini.<\/p>\n<\/blockquote>\n

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This goes in line with the expectation that once trading goes live for a Bitcoin ETF we will likely see a sell off event.<\/p>\n

The reason you keep crypto on exchanges is because you plan to make use of that liquidity.<\/p>\n

Keep a lookout for a major selling event earlier next week.<\/p>\n

\u2014 Nick_Mancini.jpeg \ud83d\udcab (@nickcini) October 15, 2021<\/a><\/p><\/blockquote>\n