Some Cash Out, Some Bullish, Some Worried

Bail003

"While the U.S. SEC has not officially approved it yet, influenced by the positive expectation of the issuance of a Bitcoin spot ETF by the global asset management giant BlackRock, the leading cryptocurrency Bitcoin broke through the $35,000 per coin mark on October 23, reaching a new high in nearly 17 months. This, in turn, has caused increasing commotion in overseas markets.

Just as Bitcoin's price rebounded strongly this week, Canadian investor Cathy Wood, known as ""Wood Sister"" in the market, sold shares of the largest U.S.-listed cryptocurrency exchange Coinbase and the Grayscale Bitcoin Trust (GBTC) for two consecutive days. Meanwhile, more and more overseas cryptocurrency analysts have begun to ""go long"" on Bitcoin's price, suggesting that it could reach $48,000 per coin by the end of the year. Concerns have also been voiced in the current market situation, as Wall Street veteran investor and renowned economist Peter Schiff expressed skepticism about the anticipated demand for the new Bitcoin ETF. He analyzed that the number of speculators ready to sell Bitcoin far exceeds the potential buyers waiting for this ETF to be launched.

For a while, the rise in Bitcoin prices has revealed various perspectives in the overseas cryptocurrency market."

Ritu77

In any market, there are always those who are bullish and those who are bearish.

Iti9

The bull and bear camps are both quite large.