Reasons Why Bitcoin is Dumping after
the historic spot ETF approval -
1) There was a strong speculation
leading towards the ETF approval,
now it’s approved people doesn’t
have anything to speculate on and
many expected it to pump towards
$55k after approval coz that didn’t
happen people are just taking profits
or selling in disappointment.
2) Bitcoin pumped from the Bottom
of $15,400 to $49,000 with fomo
elements of ETF so the correction
was naturally due and this might be
sell thenews event for many who
bought bitcoin earlier below $20k.
3) Money is moving from Bitcoin to
ETH now. People are selling BTC and
buying ETH coz they know ETH spot
ETF is coming next and ETH haven’t
really pumped yet so they are moving
to undervalued asset.
