On Oct. 15, news that a (BTC) exchange-traded fund (ETF) could start trading as early as next week sent Bitcoin price to $62,933 but the rally has cooled off since then.
Some market participants believe that traders who bought the rumor of approval for a Bitcoin ETF product may sell on the news. Crypto trading firm QCP Capital said in an update that the approval of futures-based ETFs is unlikely to provide a long-term boost for Bitcoin prices similar to the one seen in the fourth quarter of 2020.
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