Bitcoin Price May Spike on Spot ETF Approval But Sustained Rally Uncertain Due to Macro Factors
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Spot Bitcoin ETF approval expected to cause short-term price surge, but analysts unsure if rally will stick long-term
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Bitcoin saw 14%+ gains after BlackRock ETF ticker listed on DTCC site, hinting at potential price action if approved
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Analysts cite macro factors like high interest rates as headwinds for sustained Bitcoin rally despite ETF hopes
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Some expect efficient price discovery after initial euphoria, predicting retracement in mid-term post-approval
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Timing of SEC approval still uncertain, but analysts estimate 90% chance of greenlight by January 2023
