TradFi involvement with crypto is the “stamp of validity” and the spot BTC and ETH ETFs will be the catalyst for new price highs.
Experts say BTC and ETH derivatives will be instrumental in integrating crypto to TradFi and sending each to new all-time highs.) inability to overcome is all-time high, but professionals from the Chicago Mercantile Exchange , TradingView and TJM Institutional Services believe that the launch of a spot Bitcoin ETF will play a key role in sending BTC’s price to the highs traders dream of.
Regarding the potential impact that the spot Bitcoin ETF should have on BTC’s acceptance as a “valid” investment asset and its future price discovery, CME Group Global Head of Cryptocurrency Products Giovanni Vicisoso said that “ETFs have brought in sidelined investors who were not comfortable with the centralized exchanges” and he suggested that “the deep liquidity of the CME contracts and the growth in their volumes” could be beneficial to Bitcoin’s price discovery.
Crosby explained that crypto market price action at times does follow stocks, gold and oil and that crypto is also negatively impacted by internal black swans like the implosion of FTX exchange and large centralized DeFi businesses, but “once the market realizes that the crypto sector has little to do with its supposed corollari, we see the crypto market begin to recover.
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