Bitcoin stops its fall, rises again and “clone” advances 27%

Traders brace for possible profit-taking after expected ETF approval in January.

#Bitcoin ($BTC) rose again this Wednesday morning (27) after falling the day before as traders assessed how the cryptocurrency market might react if regulators meet expectations and approve, in January, the first ETFs (funds of index) of the US with direct exposure to digital currency.

At 8:30 am today, #BTC is trading back above the US$43,000 level, up 1.1% in the last 24 hours. For the year, cryptocurrency gains are still above 150%, in a recovery driven in part by the bet that #ETF will bring new demand for the asset.

Agents are now questioning whether the approval could generate any profits, which would make the event a “buy the rumor, sell the fact”.

Speaking to Bloomberg, Nic Carter, founding partner of Castle Island, said that approval of the product, which is considered almost certain before January 10, will both expand the BTC investor base in the medium term and stimulate more immediate sales. .

Experts interviewed by InfoMoney follow the same path: they bet on a risk of decline in the very short term, but on new highs in a matter of months.

Smaller cryptocurrencies continue to stand out. After the rally of Solana (#SOL ) and then BNB Chain ($BNB), today it is Polygon ($MATIC)'s turn to jump 19%. The highlight of the day, however, is the BTC “clone”, Bitcoin SV (BSV), which advances almost 27% in one day.