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When people talk about Bitcoin ETFs and how they change the Bitcoin market, they often think it will happen faster than people may think. But top traders think differently. They believe the ETF effect will take years to fully show up.
ETFs are a new way for regular investors to put money into Bitcoin without buying the cryptocurrency directly. So far, any money that has come into Bitcoin because of ETFs is just an extra help. Traders think that in the future, it will be clear that ETFs will bring a lot more money into Bitcoin.
This idea makes sense because things move slowly in the world of traditional finance. But it is not guaranteed. ETFs could help make Bitcoin’s price more stable if the rules around them are clear and if the crypto world keeps getting better.
Now, let’s look at the Bitcoin chart. Bitcoin’s price is around $66,000. There are lines on the chart that show where the price might find support – these are around $63,700 and $56,435, which are reflected in the 50 EMA and 100 EMA. If the price goes down to these lines, it might start going up again from there. If it falls below these lines, the price might go down more.
If ETF inflows are still there, the price of Bitcoin could go higher in the foreseeable future and in the long term. The next big price it would try to go over is $69,000.
Attraction of traditional funds is a positive trend for digital gold. But ETFs are still developing, and their true effect on the market. Bitcoin’s future looks bright with the attraction of institutional funds, but more time is needed for us to see that effect on the market.
