The fact that institutional investors and holders of Bitcoin exchange-traded funds (ETFs) have not realized much in their gains suggests that there won't be any selling pressure from this group in the near future. Was the Bitcoin decline below $60,000 the local low point? Bitcoin cost?
Read MoreFor some industry insiders, the much-awaited approval of spot Bitcoin exchange-traded funds (ETFs) in Hong Kong earlier this week marks a major turning point. Some caution that the optimistic event may be overshadowed by stronger market dynamics, such as ongoing inflation and geopolitical risk.
Read MoreAccording to CoinDesk Indices data, several Hong Kong issuers have announced that they have been licensed for spot cryptocurrency exchange-traded funds (ETFs). As a result, Bitcoin (BTC) has increased 2.8% in the last 24 hours, trading above $66,500, and ether (ETH) has climbed to $3,240.
Read MoreAs withdrawals from Grayscale's Bitcoin ETF (GBTC) have decreased, the price of Bitcoin (BTC) has risen above $67,000.
Read MoreMatthew Hougan of Bitwise advised traders to "stay calm and maintain a long-term perspective."
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