BTC Price Drops, but Crypto Market Remains Hopeful for Spot ETF Approval
The price of BTC is currently at $34,182, with a daily trading volume of $32.05 billion, which is 34% lower than yesterday. Speculation about the approval of a Bitcoin spot ETF has been circulating since BlackRock filed its proposal in June. While no spot ETF has been approved by the US SEC yet, many believe that the regulator is under pressure to give in and approve one or more Bitcoin ETFs. In anticipation of this, market participants have been buying BTC rapidly, leading to a price surge earlier this week.
There are even suggestions that Bitcoin could experience a single-day rally of $10,000 soon. Credible Crypto, an analyst with a large following on X, believes that Bitcoin’s momentum is increasing and it may be heading towards a massive rally. However, this remains speculative at this point and only time will tell if it comes true.
Bitcoin Minetrix Presale Prepares for Another Price Increase
Bitcoin Minetrix has been gaining attention recently due to expectations of rising Bitcoin prices and the upcoming block rewards halving in six months. The project allows users to stake their coins and receive credits through Minetrix’s cloud mining platform. To address concerns about fraudulent platforms in the industry, Bitcoin Minetrix has created a decentralized and transparent platform where users have complete control over their staked assets.
The token for Bitcoin Minetrix is currently priced at $0.0112 but will see another price increase in approximately three days. Therefore, now is the opportune time to buy before the price goes up.
Hot Take: Crypto Market Awaits Spot ETF Approval
The crypto market is closely watching for the potential approval of a Bitcoin spot ETF by the US SEC. Despite no approvals yet, there is growing optimism that the regulator will give in to the requests and approve one or more Bitcoin ETFs. This anticipation has led to a surge in BTC buying, resulting in a recent price increase. While there are predictions of a $10,000 single-day rally for Bitcoin, it remains speculative at this point. Additionally, Bitcoin Minetrix is attracting attention due to expectations of rising Bitcoin prices and its transparent cloud mining platform. Investors have a limited time to buy the token before its price increases again.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.