According to a previous report by Zombit, blockchain data analytics company CryptoQuant believes that the market may experience a “Sell The News” situation, predicting that if Bitcoin spot ETF is approved in January, the Bitcoin price may fall back to $32,000. However, Matrixport believes that the approval of the ETF is unlikely to become a Sell The News event because the approval of the ETF will make Bitcoin a legitimate asset class for institutional portfolios and can be used as collateral to purchase other assets.
