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# Bitcoin Profits Delivered On Schedule Amid Ongoing ETFs Buzz
- URL: https://www.metatalks.ai/bitcoin-profits-delivered-on-schedule-amid-ongoing-etfs-buzz/
- Published: 2023-11-10T13:34:09.000Z
- Updated: 2023-11-10T16:13:55.000Z
- Author: Katelyn Chow
- Tags: bitcoin, #helen, bitcoinetf, crypto, cryptocurrency, altcoin, ETH, ethereum, analysis, price

Bitcoin price surged past $37k on [renewed optimism](https://decrypt.co/205317/bitcoin-blows-past-37000-touching-18-month-high-on-etf-optimism?ref=metatalks.ai) for spot ETF(s) approval, propelling the market to an 18-month high — levels not seen since the Terra/Luna collapse. From a macro-perspective, however, Bitcoin [profits](https://www.binance.com/en/feed/post/1480749?ref=metatalks.ai) might seem delivered [just on schedule](https://twitter.com/TechDev%5F52/status/1722020956015628512?ref=metatalks.ai), in line with global liquidity cycles, regardless of specific news catalysts. Meanwhile, [news](https://decrypt.co/205409/ethereum-nasdaq-filing-etf?ref=metatalks.ai) about BlackRock filing for the Ethereum spot ETF on NASDAQ drove the ETH price even harder, past $2100.

![](https://lh7-us.googleusercontent.com/0g9SaojEmYA0QDlC88Mg2lx0xlgEuVG261Mu7k5xN9xkbwqsabu9pn-TfqIi4cBMLa_qR-2PJLBiKYX2HAZ93wQ2FDu_PQCgKE8YRD0ozIPatENfY9yLRHjGkdRvhEFwSK_Bw8gV8TmAZH7e4S8TuSWPq9JPjJ-K)

[Bloomberg ETF analysts say](https://twitter.com/JSeyff/status/1722321412218638632?ref=metatalks.ai) we have now entered [a short window](https://bitcoinist.com/spot-bitcoin-etfs-short-window-all-12-opens/?ref=metatalks.ai) where the SEC could potentially approve all 12 pending spot Bitcoin ETF applications simultaneously. Before November 8, individual approvals were possible, but not a collective one. If the SEC intends to act ‘fairly,’ the window from November 8 to November 17 would be an opportunity to greenlight all applicants at once or otherwise defer decisions [until early January](https://cointelegraph.com/news/bitcoin-etf-approval-window-sec-bloomberg-analysts?ref=metatalks.ai).

That sparked a new wave of [optimism in the market](https://www.coindesk.com/markets/2023/11/09/bitcoin-call-skew-hints-at-further-price-rise-as-spot-etf-optimism-energizes-btc/?ref=metatalks.ai) against a [historically tight](https://insights.glassnode.com/the-week-onchain-week-45-2023/?ref=metatalks.ai) Bitcoin supply.

![](https://lh7-us.googleusercontent.com/PYGQwp6OrR5kIdQXRwm04RUuw4ZEK0duLjnI7m51t-TqwJuywYxRdD_lHD0a42Vc2w4rEGjGRvB33hivrQOnWBoFVGAYTUqIP7v2yRoo_y9SZkVGWyazIB6nPwpIDIugltaL2WOKJIa0kkpXQAioeIGsp5Q0FCEn)

([Source](https://insights.glassnode.com/the-week-onchain-week-45-2023/?ref=metatalks.ai))

[Matrixport](https://twitter.com/realMatrixport?ref=metatalks.ai) analysts suggest Bitcoin’s breakout toward $45k is [imminent](https://www.coindesk.com/markets/2023/11/08/bitcoin-breakout-toward-45k-imminent-says-matrixport/?ref=metatalks.ai). With the halving expected in April, positive momentum around a spot ETF in the US, and [other](https://www.coindesk.com/markets/2023/11/09/exploring-the-two-overlooked-bullish-tailwinds-for-bitcoin/?ref=metatalks.ai) seemingly overlooked [tailwinds](https://cointelegraph.com/news/data-highlights-bitcoins-potential-path-to-40k-amid-economic-turbulence?ref=metatalks.ai) for Bitcoin, “the coming months are shaping up to be exciting ones for Bitcoin investors,” according to [Glassnode’s latest report](https://insights.glassnode.com/the-week-onchain-week-45-2023/?ref=metatalks.ai).

At the same time, other prominent analysts noted that previous Bitcoin cycles [had similar returns](https://bitcoinist.com/bitcoin-schedule-profits-line-previous-cycles/?ref=metatalks.ai) at this stage, echoing [Raoul Pal’s stance](https://www.binance.com/en/feed/post/1301608?ref=metatalks.ai) that halvings are a [false narrative](https://twitter.com/TechDev%5F52/status/1716625157832237410?ref=metatalks.ai), with global liquidity cycles being the actual drivers of Bitcoin’s growth.

![](https://lh7-us.googleusercontent.com/CFEBXeceZEk80LlZ0SJvMI4ttXAVA1c-diWv7r-iGWaiYdNGGGmaf42d2vKjZR34RppWjphUyCHFI8iy8X_a-R7aPkbH0W6bO_2k1oct7Ab-8uSkEH21TYxOFgAauJPo-mxE3WzXeY_4trulIkGnjlLpj2slW52q)

![](https://lh7-us.googleusercontent.com/jhJYr7RvgTuevGSq2zUOA1cAMbf4-C-twhshm5xnexJ4qOcllpz4cbsCt4097ONWHf1XrZwozz2PeMAJ-9HmHNiNaCR7i4IFd4VjF814xlx7YZd3l9pA-ewQhxh-YEINosiE5vE3vrI0Dss4-KLd71a7JSyP5Jtc)

![](https://lh7-us.googleusercontent.com/1qZgQN3WDBJOpUUDND7AN5qSjt3_3PxSZt55CiDlWbItfuj_B5vdQovM_2hrwNYPNJDCtkz4hwKEvphaUQmh3jGsCndW0XSomB6fy3yrUnJoJv37SAF8kofToZkFufqJozfxyi3GfYUu_WOF_BH_Wv3usI7BB48Z)

So, with spot ETFs or not, Bitcoin appears to be on track within its classic liquidity cycle, with a [coinciding pre-halving recovery](https://ecoinometrics.substack.com/p/everyone-is-front-running-bitcoin).

![](https://lh7-us.googleusercontent.com/SZbLZ5LleeNXe8JWYWISEkwmrFCI-6g9kL8s-zT7pS5qJulP4ygiWtTf9_DFBWl_CJZv6bkxuESuE2l2t_2pMu6BnCgMXtwRAT-i49v2i-9E_zALM3uddHMZ-yqKsDj5GXhV5pFZVLIkdfE5SvEpvigaweqorvdM)

What if [something doesn’t go as planned](https://www.metatalks.ai/spot-bitcoin-etfs-could-drain-capital-from-mining-stocks-if-not-turn-out-an-epic-gensler-rug-pull/)? Swissblock’s recent report [outlines a worst-case scenario](https://swissblock.substack.com/p/cryptos-resilient-phoenix) where the price may retest the $31.5k breakout level, with relatively low odds of breaking below that. And for many sidelined folks, such a dip [would present](https://thewolfden.substack.com/p/the-wolf-den-845-coin) a much-anticipated buying opportunity.

![](https://lh7-us.googleusercontent.com/qrd3gOAbdI5DHJbeiCJh2Vp_mhTVEyZXjtH2kOfpdvVwTBMCCQMcVLCSdK43gPchDVUOfjGaBBi46Hz4G0Qf_6hjWZqgUQ2nfBF3lAeJcQXK2cCjAy2b-e3ieET6jqn-NQyQlyucLn7t9D8pfzAsjXcg6LKTEPYi)

([Source](https://thewolfden.substack.com/p/the-wolf-den-845-coin))

At the same time, BlackRock [filed for an Ethereum ETF](https://decrypt.co/205409/ethereum-nasdaq-filing-etf?ref=metatalks.ai) with NASDAQ, propelling ETH price past $2100, with a decent strength relative to Bitcoin. [It’s unclear yet](https://decrypt.co/205409/ethereum-nasdaq-filing-etf?ref=metatalks.ai) when BlackRock intends to formally file with the SEC, let alone receive approval. Nonetheless, the prevailing market optimism has rendered even the prospect of such developments significant.

![](https://lh7-us.googleusercontent.com/CTR7xizHnF64RDXM8s9HZai6zKqDwS84GsCFMDqIzcnVWgW1xVdnD7-wu0aewRa02Vth_GMnOOWRnbaCZ8X3E4-KAfCxyBoJNB9lhBvNgrX0z9bdmJa-Eoku3pENh8JMlF_cqnMe-rPDzp6H8D3zsH9CM1tuX83c)

This chart shows how relative strength is flipping towards Ethereum as capital flows head from BTC to ETH. ([Source](https://thewolfden.substack.com/p/the-wolf-den-844-contrarianism-reconsidered))

We could see Ethereum sustain its emerging trend, which generally serves as a good proxy for the broader altcoin market and explains the numerous upticks in altcoin prices.

![](https://lh7-us.googleusercontent.com/R_Rv9FoJ2pLyHwrpdIEXiCj-2bD9jVLtPExPHPtJGSxPfyNsnyL0L7pMxt5JQlnUCz7K_HGQTd3pXJXlowNGprsycC8EmTgtKpv_7zvmW6G-fbKiwFQi9M11Hw9SRVEE1NwDomMXMUXdor6Q6btsYNlXoxybUONJ)

![](https://lh7-us.googleusercontent.com/gZ5QGQCCvdyeNFELG-yT748X6lS2_BkOH_4cu4-XPeKCpkb6dqDo3GxTAYftcBfbTFx90AmOipoGIt51GcWHOWacg1JK45lLbaKXyhb4tJMvHDkXloegVfnS0htOKR7S7iCGG0UQw5hQu_7SPfivxMfwWivj2s-X)

### How Not To Suck At Trading

Tactical trading is hard. [Risk management](https://www.youtube.com/watch?v=XeQV2ECtZVQ&ref=metatalks.ai) and [position sizing](https://medium.com/@cryptocreddy/comprehensive-guide-to-position-size-and-leverage-2e27764ce9e0?ref=metatalks.ai) are key. Without proper risk management and position sizing, [you will suck at trading](https://themacrocompass.substack.com/p/how-not-to-suck-at-trading) on a distance.

---

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