$Marathon Digital Holdings Inc(MARA)$
BTC keeps having huge downside spikes. Once it finds a stable bottom, it will move back up.
Osiris, the Hong Kong ETFs could provide some level of support. If they were a sell the news event, then this huge drop probably took most of the wind out of that. At the same time, it is possible that BTCs recent performance dampens the enthusiasm. but I don't see a run-up to the announcement, to be able to sell on the news.
I doubt the Chinese want BTC high, when they can start funneling funds into the new ETF. So, that could be a part of it.
As for enthusiasm, it's Asia. Lots of money from mainland China will want into BTC:
“Halving is not the only thing to look out for in the price action. But rather the upcoming Bitcoin ETF approval in Hong Kong, which also happens next week. The big banks of China will all have to start buying Bitcoin themselves too.”
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