{"id":25133,"date":"2023-12-19T11:28:26","date_gmt":"2023-12-19T11:28:26","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/analyst-says-spot-bitcoin-etf-a-wrap-as-approval-sentiment-lifts-bitcoin-btc-and-pullix-plx\/"},"modified":"2023-12-19T11:28:26","modified_gmt":"2023-12-19T11:28:26","slug":"analyst-says-spot-bitcoin-etf-a-wrap-as-approval-sentiment-lifts-bitcoin-btc-and-pullix-plx","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/analyst-says-spot-bitcoin-etf-a-wrap-as-approval-sentiment-lifts-bitcoin-btc-and-pullix-plx\/","title":{"rendered":"Analyst says spot Bitcoin ETF a \u201cwrap\u201d as approval sentiment lifts Bitcoin (BTC) and Pullix (PLX"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687293519542-c085edcc-ee86-4543-9464-c17b1adada5c-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687293519542-c085edcc-ee86-4543-9464-c17b1adada5c-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687293519542-c085edcc-ee86-4543-9464-c17b1adada5c-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687293519542-c085edcc-ee86-4543-9464-c17b1adada5c-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Bitcoin ($BTC) jumped 5% to above $43k on Tuesday as markets reacted to news around BlackRock\u2019s spot Bitcoin ETF filing.<\/li>\n<li dir=\"ltr\">An analyst says the latest amendment to BlackRock\u2019s proposal means an approval is as good as done.<\/li>\n<li dir=\"ltr\">Positive sentiment has altcoins also bouncing higher, and Pullix ($PLX) looks poised as presale surpasses $800k.<\/li>\n<\/ul>\n<p dir=\"ltr\">Bitcoin ($BTC) bounced higher on Monday after the weekend\u2019s retreat to below $41k, with the market\u2019s reaction to the latest spot Bitcoin ETF news lifting altcoins. Elsewhere in the market, the <a href=\"https:\/\/pullix.io\/?utm_source=Coinjournal&amp;utm_medium=PR&amp;utm_campaign=1912\" rel=\"noopener noreferrer\" target=\"_blank\">Pullix ($PLX) presale<\/a> accelerated as stage 3 surpassed the $800k raised mark.<\/p>\n<p dir=\"ltr\">What does the highly anticipated ETF approval mean for the crypto market? Could $PLX benefit from this?<\/p>\n<h2 dir=\"ltr\">Bloomberg\u2019s Eric Balchunas says spot Bitcoin ETF \u201cdebate over\u201d<\/h2>\n<p dir=\"ltr\">On Monday, BlackRock filed an amended S-1 application for its spot <a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin-etf\/\">Bitcoin ETF<\/a> proposal. Instead of its earlier version\u2019s in-kind redemption model, the world\u2019s largest asset manager is looking at cash-only redemption.<\/p>\n<p dir=\"ltr\">It\u2019s what the SEC has reportedly favoured and comes after numerous meetings between the regulator and the asset manager. Positive conversations between different firms have encouraged the crypto industry, with hopes that the <a href=\"https:\/\/coinjournal.net\/news\/sec-delays-decision-on-ark-invest-spot-bitcoin-etf\/\">rejections and delays<\/a> are coming to an end.<\/p>\n<p dir=\"ltr\">Eric Balchunas, a senior ETF analyst for Bloomberg, believes BlackRock\u2019s move means approval for the first spot Bitcoin ETF in the US is a \u201cwrap.\u201d<\/p>\n<p dir=\"ltr\">With BlackRock now set for cash-only creation and redemption \u2013 instead of direct (in-kind) $BTC deposits \u2013 approval is now a matter of when rather than if. For Balchunas, its \u201cdebate over\u201d as BlackRock looks to have the approval all but sealed ahead of the holidays.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BlackRock has gone cash only. That\u2019s basically a wrap. Debate over. In-kind will have to wait. It\u2019s all about getting ducks in row bf holidays. Good sign. <a href=\"https:\/\/t.co\/vgocs1aIwS\">https:\/\/t.co\/vgocs1aIwS<\/a><\/p>\n<p>\u2014 Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1736906286388703444?ref_src=twsrc%5Etfw\">December 19, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">Other firms that have proposals pending before the SEC are also engaging with the regulator. Bitwise, ARK Invest\/21Shares and Wisdomtree have also submitted amended S-1 filings.<\/p>\n<h2 dir=\"ltr\">What would a spot ETF approval mean for the market?<\/h2>\n<p dir=\"ltr\">Market experts say a spot ETF approval combined with other positive catalysts, including the upcoming Bitcoin halving, could see $BTC aim for prices above $120k in this bull cycle. Today\u2019s bounce means Bitcoin could still rise to the forecast high of $50k before the end of the year.<\/p>\n<p dir=\"ltr\">Altcoins, which have historically mirrored the benchmark cryptocurrency\u2019s movement, could similarly explode. Most of the top coins by market cap are potentially set for this bullish trajectory.<\/p>\n<p dir=\"ltr\">However, also to make for tantalising propositions are new projects \u2013 gems for savvy investors. One of those looking for a major entry into the market is Pullix ($PLX). \u00a0<\/p>\n<h2 dir=\"ltr\">Pullix ($PLX): A new hybrid exchange set to redefine online trading<\/h2>\n<p dir=\"ltr\"><a href=\"https:\/\/pullix.io\/?utm_source=Coinjournal&amp;utm_medium=PR&amp;utm_campaign=1912\" rel=\"noopener noreferrer\" target=\"_blank\">Pullix<\/a> is a new cryptocurrency project on the Ethereum chain. According to its whitepaper, it is a hybrid exchange platform where traders can benefit from trading stocks, crypto and other assets.<\/p>\n<p dir=\"ltr\">But is Pullix any different from other online trading platforms in the market?<\/p>\n<p dir=\"ltr\">Pullix looks to go beyond just another hybrid exchange. It\u2019s designed to bring the best of both CEX and DEX trading to users, with $PLX the utility token at the heart of all transactions. Tapping into the power $PLX a user can unlock staking rewards, trading discounts, revenue share, cashbacks and other exclusive offers.<\/p>\n<p dir=\"ltr\">The project is an entire ecosystem designed for the trader, who can take advantage of opportunities in both traditional and digital asset markets.\u00a0<\/p>\n<p dir=\"ltr\">This is likely to be strengthened by Pullix\u2019s liquidity provision and competitive prices, with demand across the DeFi space key to $PLX future performance. The daily purchase and burn of $PLX tokens will also see circulating supply reduced and potentially positively impact prices.<\/p>\n<h2 dir=\"ltr\">Why are investors bullish on Pullix ($PLX)?<\/h2>\n<p dir=\"ltr\">The trading marketplace has seen rapid growth in the last few years, and combined daily trading volumes for crypto, stocks and forex is over $7 trillion. The opportunities are increasing as more assets get adopted into the financial markets.<\/p>\n<p dir=\"ltr\">With crypto adoption on the rise, the need for a trading platform that puts traders in control, could see Pullix rise to dominate the hybrid exchange landscape. Pullix ($PLX) token launching in early 2024 makes buying now potentially very attractive.<\/p>\n<p dir=\"ltr\">The imminent approval of a first $BTC ETF for the US market and the likelihood of prices rallying hard may also be crucial to $PLX performance post launch. Currently, Pullix is in presale stage 3. The price of $PLX is $0.044.<\/p>\n<p dir=\"ltr\">To learn more about Pullix, check out their whitepaper or visit their <a href=\"https:\/\/pullix.io\/?utm_source=Coinjournal&amp;utm_medium=PR&amp;utm_campaign=1912\" rel=\"noopener noreferrer\" target=\"_blank\">presale page<\/a>.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/analyst-says-spot-bitcoin-etf-a-wrap-as-approval-sentiment-lifts-bitcoin-btc-and-pullix-plx\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Bitcoin ($BTC) jumped 5% to above $43k on Tuesday as markets reacted to news around BlackRock\u2019s spot Bitcoin ETF filing. An analyst says the latest amendment to BlackRock\u2019s proposal means an approval is as good as done. Positive sentiment has altcoins also bouncing [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":25134,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25133"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=25133"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25133\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/25134"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=25133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=25133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=25133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}