A top trader who caught the crypto rally at the start of the year is unveiling his outlook for Bitcoin as market participants eagerly await the potential approval of spot market BTC exchange-traded funds (ETFs).
Crypto analyst DonAlt tells his 55,600 YouTube subscribers that the approval of a spot-based BTC ETF will likely induce increased volatility in BTC.
According to the crypto strategist, it is within the realm of possibility for BTC to briefly rally once the announcement is made only to massively correct in the days after.
“Let’s say the halving and the ETF can make this thing bullish. Even if that is the case, I think the news is going to be a sell-the-news event.
You might just wick, like maybe we wick to the upside on the ETF announcement toward $45,000, $46,000, $47,000 maybe $48,000 something like that. And then I could see a 10%, 20% or…
