Home
News
- 1 The United States stock market may be closing in on a new bull market- Co-founder Framework Ventures.
- 2 In this process, the S&P 500 might play a significant role if its register is at an all-time high.
- 3 During spot ETF hype, Bitcoin the pioneer of cryptocurrencies was constantly approaching $49k.
Framework Ventures co-founder Vance Spencer recently wrote in his ‘X’ post that the United States stock market may be closing in on a new bull market. He also highlighted that there are approximately $6 Trillion in treasury bills at current.
However, he believes that the majority of them are expected to return back to the stock market, as investors try to cash in on the estimated rise. He says that this event will only occur if S & P 500 registers a fresh all-time time.
However, when Vance, posted on ‘X’ the S&P 500 was 0.5% less to register a new all-time high. He added if it occurs there will be an acknowledgment, we are in a new bull market.
Vance stated his beliefs by adding that the fear of missing out on a bullish rise will convince the investors to transfer their treasury bills into the stock market. “It’s hard to convey how being unallocated while the market rips to new ATHs torments people – the money must flow,” Vance added.
The predictions made are based on the pre and post-market spot Bitcoin ETFs approval. As per some other market analysts, the flow of funds in the U.S. stock market as well as the cryptocurrency market has surged significantly in the past few weeks.
Crypto Market Pre & Post ETF Approval
The hype and news of spot ETF has stirred the entire industry and in some phase of 2023, the entire crypto market has enjoyed bullish momentum. In the past 30 days, Bitcoin the pioneer of cryptocurrencies was constantly trying to approach $49k.
However, some analysts claim that 30% of the price of crypto was derived from the entry of BlackRock and other leading traditional and non-traditional financial giants.
On the day of decision over ETFapproval Bitcoin was skyrocketing and the movement continued till the next day of approval and earned a popular and invited over $450 Million in the market.
As of writing, Bitcoin was trading at $42,645 with a weekly decline in the prices of 5.50%. It is crucial to note that following the approval of spot ETF Ethereum price showed major improvements. That was just because of the hype in the market about the Ether spot ETF.
The market was struggling during the unprecedented bankruptcy of Celsius Network. Most of the tokens/coins in the crypto market were struggling. Bitcoin was trading in the range between $20k- $25k at that time and at the time of writing, it was trading at $42,578.67 with a 365-day surge of 105.71%.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
