I found a great summary on X from ashcrypto. Gave it a thought and sharing it here on why Bitcoin is experiencing a dip post the groundbreaking spot ETF approval
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Initially fueled by speculation, the approved ETF left little room for further speculation, leading to profit-taking and disappointment-induced selling.
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Bitcoin surged from $15,400 to $49,000 on ETF-driven, I guess FOMO, prompting a natural correction; this sell-the-news event impacted those who entered below $20k.
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Probably, capital is shifting from Bitcoin to ETH as investors anticipate an ETH spot ETF. Recognizing ETH's potential and undervaluation, some are making strategic moves.
Don't overlook the positive aspects:
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The Bitcoin ETF achieved a historic $4.3 billion in volume, setting a record in ETF history.
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Wall Street now has access to Bitcoin, hinting at potential trillions flowing into the market over time.
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The Bitcoin ETF instills trust in crypto, marking a significant step in legitimizing digital assets.
In my view, the interesting part is that the Bitcoin ETF is poised to gain popularity on Wall Street, attracting billions in allocations over time, potentially propelling BTC to easy go +$100k. Stay steadfast and exercise patience. Show Less
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