Economist Alex Krüger is cautioning traders about the potential crash of Bitcoin (BTC) following the approval of a spot market exchange-traded fund (ETF). Krüger believes that the approval of BTC ETFs by the U.S. Securities and Exchange Commission (SEC) will lead to a sell-the-news event. He predicts that Bitcoin’s price will initially rise after the expected approval in January but will see profit-taking soon after. Krüger suggests that the post-approval period could result in strong inflows pushing up BTC’s price, but weak inflows or rejected ETF bids could cause a sharp decline. Bitcoin is currently trading at $42,529.
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Economist Alex Krüger Issues BTC Warning, Says This Could ‘Send Prices Crashing’ After Spot Bitcoin ETF Approval
