Will FIL and ETH continue to plummet? Will the SEC seize the handle and reject the approval of the BTC spot ETF?

Hello everyone, I am Chenshi. A few days ago, the crypto market media released false news that BlackRock’s Bitcoin spot ETF application had been approved. However, in less than 10 minutes, a FOX reporter published an article to refute the rumor, stating that BlackRock confirmed that the information was wrong and the application was still under review.

Today I shared the complete wealth code and market situation. I no longer seek comfort everywhere. Many people told me that they want to mention KNK1416. Everyone understands and replies in unison. I am also a Buddhist disciple. Helping others is also what every Buddhist disciple is willing to do.

Let’s get back to the point: Once the fake news was confirmed, Bitcoin fell back to 28,000. At the same time, we must remind ourselves again that before receiving any news from the market, we need to pay special attention to distinguishing the authenticity of the information. Many people have said that this incident will affect the subsequent Bitcoin spot ETF application and will not be approved.

After today's analysis, it will become clear. After this fake news incident, the SEC also spoke out. The best source of information about the SEC is the official SEC. This fake news incident may cause trouble for the future of the cryptocurrency circle. The SEC chairman is likely to cite this incident as a real example of how Bitcoin is easily manipulated, and use it to suppress the application of spot ETFs. In other words, in everyone's mind, not only interest rate hikes can influence the market, but I am afraid that everyone thinks that the application of Bitcoin spot ETFs can also influence it, and it can influence it very strongly.

Partners of investment institutions are also worried, believing that this has greatly damaged the chances of the Bitcoin spot ETF being truly approved. However, the media did clarify the mistake of sending the wrong message, but it has to be said that the international joke was a bit too big. The biggest victim this time is undoubtedly the contract, so everyone must stay away from the contract.

However, one thing is certain: BlackRock manages huge amounts of money. It is only a matter of time before the application is approved. If it is not approved this time, they will have to pay 100 million. There is always a bargaining chip for everything, just like the consensus that Bitcoin is the solution to inflation. Consensus is scary and no one can influence it.

However, it must be said that it will take time for many people to forget about the application for the Bitcoin spot ETF, otherwise it will cause an impact on this circle. This is what the SEC has to do. Rich businessmen are seeking profits, and so are we. All we have to pay attention to is what I said in the last issue. The approval of the Bitcoin spot ETF application will surely trigger a good market.

It would be best if it can be passed in January next year. If it cannot be passed, we must look at it rationally. This is not something any of us can control. It is useless to think too much. All we have to do is pay more attention to it. There will be a day when it will be passed. There is hope next year.

Many people asked me about FIL, and I have also shared with you many times how to endure loneliness, buy low and sell high, and then make arrangements below 3U. Some can be sold in batches first.

Ethereum’s stake has increased by 50% since the Shanghai upgrade, but the increase in network activity has been rather disappointing.

Ethereum's daily transaction volume, daily active addresses, and the total locked value (TVL) of DeFi protocols on the network have all declined. In addition, Vitalik Buterin has been selling Ether recently, but the good news is that Vitalik Buterin posted a statement today clarifying that the purpose of selling Ethereum was to donate money to poor children. This news is also morale-boosting.

Market share: Bitcoin's strong support is still 27,000, but the altcoin and Bitcoin are not linked, which is very helpless. We still need to wait for Bitcoin to break through 28,800 to stand firm. Finally, I would like to share that FTT is not high below 1, and it can be divided into batches, and then there will be gains. See you next time!