A short-lived market rally on Grayscale court win before retraction. We believe it's now a buyer’s market – with the market fundamentally underappreciating the great news.
Short-lived market rally on Grayscale court win before retraction
The Grayscale verdict, which greatly enhanced the prospects of an eagerly awaited Bitcoin spot ETF, generated a notable market surge, resulting in a 6% gain last Tuesday. However, this bullish momentum was short-lived, as Bitcoin retraced its entire rally by Thursday, concluding the week with an unremarkable weekly return of -1%. Also on Thursday, the SEC predictably delayed all active BTC ETF filings. The announcements came after BTC’s retracement, suggesting the two events were unlinked.
Buyer’s market – prices ‘should’ have gone up
The market seems to underestimate the potential impact of U.S. BTC spot ETFs. A Spot ETF approval should attract enorm
The market dramatically underestimates the impact of U.S. ETFs. A slow September favor strategic positioning ahead of an October packed with market-moving events. I favor a mix of increased ETH exposure and conservatively leveraged long exposure in BTClg...more