Bitcoin, the world's largest cryptocurrency, has been causing confusion among investors due to its volume and price fluctuations. The recent approval of spot ETFs, with a total of 11 being given the green light, had initially sparked optimism among bitcoin maximalists and crypto investors.
Supporters and advocates of these ETFs highlighted several reasons why they would be bullish for bitcoin. The anticipated inflows from institutional buyers and traders, the potential reactivation of dormant accounts, and the increased legitimacy of the sector were all factors that boosted market confidence and price predictions.
