– Matrixport predicts bitcoin will fall to $36,000 in the first quarter and then recover; ETFs are impacting the market with significant outflows and buying.
Matrixport predicts a challenging first quarter for bitcoin, with prices falling to around $36,000 and then recovering. Bitcoin spot ETFs are an important idea for the industry, and now that they have emerged, their impact is being watched closely.
Bitcoin’s recent drop to $39,000 has cast doubt on the effectiveness of ETFs amid investor expectations that the bullish rise would be interrupted and replaced by a disappointing fall Interest in ETFs from TradeFi has not been as strong as expected, contributing to bitcoin’s predicted fall. which was one of the factors in bitcoin’s predicted fall.
According to Matrixport, bitcoin will hit a low of $36,739, but will then recover. Bitcoin’s strong fundamentals and liquidity have supported this rebound despite initial problems in the ETF market.
ETF issuers who buy large volumes of bitcoin become influential players in the market. Now the industry is facing the consequences of these actions on the bitcoin price.