Current BTC Price Action Mirrors The Price Action Seen After U.S. ETF Launch: Van Straten
Since the presenting Trump has been inaugurated in January. 20, Bitcoin (BTC) went from $ 109,000 to $ 80,000, making it a classic “Sell The News” event. Friday, the correction continued to sink the top of digital assets.
Although prices’ action can dictate a short -term drop, Bitcoin Bulls COUELF considers it as a long -standing positive catalyst, while the American administration has moved from a hostile position under the previous administration to more favorable. How, the lack of immediate purchase pressure suggests a shortcut.
A similar price action occurred during the very lively launcher of the US spot Bitcoin in January 2024. From October 2023 to January 2024, Bitcoin increased from $ 25,000 to $ 49,000 a rally of 40%. How, the launcher marked a local summit, because the price then decreased by 20% in the following weeks before reaching the summits of the new time over $ 73,000 in March.
This time, after presenting Trump won the US elections in November, Bitcoin joined 60%, reaching a summit of $ 109,000 in January before a correction of 30%.
The common model in both cases is that the upturks have triggered a local summit in the Bitcoin price, followed by a significant correction. The following variable is that Bitcoin begins to move high in this finished correction, with a lot depending on the macro landscape.
