Bitcoin spot ETFs have been available in many countries around the world for a while now. Some have been available for well over a year!
The only thing lacking is demand, and that comes with liquidity, not when some TradFi entity comes along with yet another Bitcoin product.
US news dominance on social media will lead you to believe that this is the most important event in Bitcoin's history, and the timing of the approval may lead you to believe that it affected price, but the reality is the US is late. Spot ETFs are old news, and if you're a real Bitcoiner, why are you cheering for these products anyway?
There are so many more important and interesting developments in the Bitcoin space.
Things that drive real self-custodial adoption, like what is going in El Salvador, and how that might influence other countries like Argentina to adopt Bitcoin at a national level. These events are huge!
Ordinals have attracted more builders on Bitcoin than we've seen in years past combined. BTC has gone from something that young people didn't care about, Boomer coin, to the most innovative and feature rich NFT market in crypto. Web3 has arrived on the mother chain and the result of that innovation is that Bitcoin is outperforming Ethereum by quite a margin!
Bitcoin will continue higher whether these ETF products get approved or not. Number go up technology is pre-programmed. As the fiat ponzi scam goes down, BTC goes up.
#Bitcoin doesn't care about ETFs, and neither do I โผ๏ธ
All these clips going around of Larry Fink talking about #Crypto interchangeably with #Bitcoin makes me think he doesn't understand why massive decentralisation and proof of work make it different, or if he even really understands it at all.
You can't legitimately claim crypto to be a flight to quality, unless you are only referring one or two specific chains. Centralised crypto shitcoins are literally the riskiest assets you can ever put your money in! There is little quality there.
So, he's clearly talking about Bitcoin, because that's the ETF product that his firm is trying to get approved with the SEC, but using the wrong words to explain it. I'm sure he's just regurgitating what he's been told to say by the press team, along with a random and completely irrelevant mention of 'global terrorism', as though that has anything to do with anything.
Larry is the largest individual shareholder, but Blackrock itself only owns 7% of their own company, so there are many other forces at play, and the many bright people behind the scenes are steering the firm in the right direction, despite Larry's word salad.
#Bitcoin doesn't need ETFs, but it always needs a narrative, and this one will do for now. I'll take it! ๐
Every time in history, #Bitcoin retraces from the low to the 0.786 fib, marking a local high as 2 week RSI tests 70; and, every time in history, that was not the cycle top by a long stretch.
Elliott Wave Theory > Four Year Cycle Theory
This is based on my alternate count, however if it plays out, by this definition at least, lengthening cycles are still very much in play
#Bitcoin
S&P 500 linear regression in log with two standard deviations from trend. The secular trend is very much intact, and I expect it to continue.
Monthly MACD cross is significant and tends to precede at least 18 months of positive momentum, if not longer.
#SPX #Bitcoin
Too many calls for 20k #Bitcoin
Tested Dec 17, claimed Dec 20, tested Jun 22, lost Nov 22, reclaimed Jan 23, and retested Mar 23.
I stand by my view that 20k #BTC is gone forever.
5+ years is a long time for a exponential asset to be testing the same level.
Bull market ๐
Investment in #XRP is investment in banks, if it succeeds.
Usually those in #Crypto want freedom from the oppression of the financial system
Yet so quick to get into bed with #Ripple if they think the price will go up
Seems greed is always able to overcome values
#Bitcoin