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What Will Be The Price Impact If Bitcoin (BTC) Spot ETF Is Rejected? Analysts Explained

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Bitcoin’s latest rise is a minimum of partially attributed to optimism that a number of spot ETF merchandise will quickly launch. Nevertheless, the next query involves thoughts right here: What’s going to occur to the worth of Bitcoin if the Spot ETF just isn’t accepted?

Analysts acknowledged that the rejection of the spot ETF by the US Securities and Alternate Fee (SEC) may result in destructive short-term worth motion for Bitcoin. Nevertheless, in addition they emphasize that Bitcoin’s existence is unquestionably not tied to an ETF.

Laurent Kssis, a crypto buying and selling advisor at CEC Capital, suggests {that a} rejection may set off a downward transfer and probably push the worth under $30,000. Nevertheless, he notes that any decline ought to be balanced in opposition to different bullish catalysts, such because the upcoming halving.

Martin Leinweber, product strategist at MarketVector Indexes, predicts that any rejection could be a major disappointment for the market. He says the Spot Bitcoin ETF is usually seen as an indication of institutional acceptance and integration into mainstream monetary techniques.

Leinweber additionally factors out {that a} denial may set off authorized turmoil for the SEC. The SEC suffered a significant courtroom loss in June when it dominated that its rejection of Grayscale’s try to convert its Bitcoin Belief (GBTC) right into a spot ETF was “arbitrary and capricious.” The SEC didn’t attraction the choice in October, resulting in present expectations that approvals would observe.

Though BTC, as a decentralized asset, doesn’t tie its existence to an ETF, Leinweber believes {that a} rejection would undeniably forged a bearish shadow on Bitcoin’s worth within the quick time period. Leinweber additionally provides that the absence of the ETF would put important strain on the crypto market and require a interval of adjustment and realignment.

*This isn’t funding recommendation.

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