Bitcoin Price May Spike on Spot ETF Approval But Sustained Rally Uncertain Due to Macro Factors

Spot Bitcoin ETF approval expected to cause short-term price surge, but analysts unsure if rally will stick long-term

Bitcoin saw 14%+ gains after BlackRock ETF ticker listed on DTCC site, hinting at potential price action if approved

Analysts cite macro factors like high interest rates as headwinds for sustained Bitcoin rally despite ETF hopes

Some expect efficient price discovery after initial euphoria, predicting retracement in mid-term post-approval

Timing of SEC approval still uncertain, but analysts estimate 90% chance of greenlight by January 2023