**Bitcoin Could Benefit from Spot BTC ETF Launch**
According to Julio Moreno, head of research at CryptoQuant, the launch of spot Bitcoin exchange-traded funds (ETFs) could increase Bitcoin’s market capitalization by $1 trillion. While approvals for these ETFs may not come this year, Moreno believes that the probability of approval will continue to increase over time. He cites the court victories of Grayscale and Ripple in their respective court cases as possible drivers for approval. Moreno anticipates a fresh capital inflow of approximately $150 billion into the Bitcoin market once the SEC gives its nod, which could increase Bitcoin’s market capitalization by $450 to $900 billion.
**Massive Security Risk Discovered in Bitcoin Lightning Network**
Bitcoin developers have discovered a massive security risk in the BTC Lightning Network. The code contains intentional backdoors that bad actors could exploit to gain full control of the network. In response to this discovery, one developer has announced his departure from the project. The news of this security risk has caused concern within the crypto community.
**Bitcoin Price Forecast**
Bitcoin’s price has been bullish over the past week, reaching $30,051 after a 13% surge since mid-October. This surge was confirmed on October 21, following multiple rejections between October 16 and 20. The Federal Reserve meeting on Friday took precedence over the fake news of a spot BTC ETF approval that shocked the markets on October 16. Bitcoin price has tagged the supply zone between $30,280 and $31,454, where aggressive selling is expected. To confirm an uptrend, BTC must break above the mean threshold of this order block at $30,868. In a highly bullish scenario, Bitcoin price could flip the supply zone into a bullish breaker and potentially reach $31,804.
**Converse Case**
Profit-taking could interrupt the uptrend and send Bitcoin price below the $29,868 support level. Increased selling pressure could cause Bitcoin to drop further and flip the $28,105 support floor into a resistance barrier. In the worst case, Bitcoin price could fall into the demand zone between $27,017 and $26,546. If BTC breaks below the midline of this order block at $26,782, it would confirm a continued downtrend. The price could then slump to the $25,635 range low.
**Bitcoin Alternative: BTCMTX**
BTCMTX is a promising alternative to Bitcoin that offers the opportunity to earn credits and own BTC. It is currently in the presale stage, selling for $0.0111 per token. Stakers can earn credits that can be redeemed for mining hash power. The project has seen success in its first stage and is nearing the end of its second stage. Interested investors should act quickly to buy BTCMTX using Ethereum (ETH), Tether (USDT) stablecoin, or their bankcard.
**Hot Take: Bitcoin’s Potential Growth with Spot BTC ETFs and Security Risks**
The potential launch of spot Bitcoin exchange-traded funds (ETFs) could have a significant impact on Bitcoin’s market capitalization, potentially increasing it by $1 trillion. However, concerns have been raised about a massive security risk discovered in the Bitcoin Lightning Network, which could give bad actors full control of the network. These developments highlight both the potential for growth and the risks associated with Bitcoin and its infrastructure. It is essential for investors to stay informed about these factors as they navigate the crypto market.
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