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@PaulBenjaminPhotographer Once the ETF got approved, Bitcoin price went up, it did not go below $40k.
There were many markets like this, all resolved the same.
And Bitcoin has not been at $40k or below since around December 2nd 2023. There was a tiny chance it would go below $40k even if they treated it as a "sell the news event".
The ETFs got approved and the next day trading was open on all stock platforms, which means if you look at the volume of those stocks $ amount, that is how much that ETF has to buy that day in Bitcoin to secure it with its custodian holder.
This made it very hard to make a significant drop below a 90 day moving average.
@SirCryptomind a) I think the word 'immediately' was missing clearly.
"Will the temperature in London be above 25C after February 2nd?" probably doesn't resolve on February 5th...
b) Bitcoin traded sub 40k on January 3rd if the charts are to believed.
c) The price is currently at $41,500, down over 15% since the post ETF approval peak.
¯\_(ツ)_/¯
@PaulBenjaminPhotographer
Where are you getting you drop % from? It is -7.2%
Where are you getting $41,500 from? It is $42,241.90


@SirCryptomind Bitfinex had trades at $41,424 at 09:22 this morning.
I'm glad that as a moderator you're taking queries about resolution seriously, it instills such confidence in future issues, which may be important...
@RajDhaliwal This can probably resolve NO like the others that asked similar questions after approval. It went UP not down.

