![](https://images.ecency.com/DQmVBTUQuhCohKscN6S2XwQUBjRmh3J8XqdQB6x3FMEE4Fs/etf_btc.jpg)



Today we got some wild news at least I woke up to it from a somewhat trusted source on twitter aka X. X was flooded with news about the first ever Bitcoin SPOT ETF to be approved.

![](https://images.ecency.com/DQmQft24DHmCcPqXpYBSSbqK2wcPkL1wbP9i3A22X2SFeoX/btc1.jpg)

This set off a flurry in the markets...

![](https://images.ecency.com/DQmYpGKFb82gExW4BLUV6ecKfyR1wKReKCva6dHYN7ALg9j/btc2.jpg)

Even enough so to push the market cap up by a decent amount

![](https://images.ecency.com/DQmchR3bAVhJpAoEQfJGcSZ7ePrcSRWwbHVY9FvEbrmUPva/cap1.jpg)

But that's not all we saw other tokens drasticly increase in price at the same time. Mark ADA, SOL, Sitcoin SV, Bitcoin Cash, Litecoin and yes even the most hated of them all Tron.

We even saw hive spike for a moment but really little to no action there for our beloved community here.
![](https://images.ecency.com/DQmSewjbJeaFQaaeQg2gkyeXdrG8NvEeHDiHP3QGKin3XpY/hive1.jpg)

So while there might have been foul play involved of which we may never know we did see a few things happen. The liquidation of many short orders against bitcoin.

I found this #meme to be enjoyable
![](https://images.ecency.com/DQmUyeoNCnxsqn7uFGo8v7whuXGRy5L5RqH7CWBAfCsAsSe/coinshort.jpg)

## What This Shows Us

Even though this ended up being a major false flag and a possible error in reporting it clearly shows us how much demand and bullish market there is behind a spot bitcoin ETF that would most likely trigger a major bull run.

Within just 30 minutes Bitcoin went from current levels of $27,000 up to nearly $30,000 and has now held a higher market cap then before in the matter of just 24 hours.

There's pure speculation news and last minute jump. This isn't even the big players who would be the real ones to dump billions into bitcoin if and when a true spot bitcoin ETF did get approved. I could see us testing upwards of $50,000 within a 24 hour period of time when the real news breaks which would send a flurry of everyone else into the market and FOMO the heck out of it. I honestly think we would see a $125,000+ bitcoin price if that happens in 2024.
*This article is for entertainment purposes and is not financial advice

Another thing that seems to be clear is that the DEFI space is pretty much dead. There are far too many hacks, security issues, rug pulls etc that I just simply don't see DeFi moving forward. That is unless it implements some type of safety wrap net type feature and centralizes it more. While DeFi sounds great and wonderful in practice it's been anything but.

What will will most likely see is centralized places like CoinBase and other companies like this launch their own staking services and APR services. Pretty much acting as a crypto bank and provide compeditive APRs compared to each other.

Now of course that got us into trouble in the last bull market as some companies kept offering higher and higher APRs higher than what the tokens were even paying out! Those should be lessons learned and major red flags as we roll into the next bull run. However in all cases we see people never learn and simply keep running to the get rich quicker and end up losing while maybe, just maybe if you're lucky you'll come out ahead.

Posted Using [InLeo Alpha](https://inleo.io/@bitcoinflood/no-etf-yet-but-a-glimpse-into-what-might-be-coming)