The latest decoupling from the two can be explained by the fact that the crypto market, since October, has been squarely focused on expectations for a spot bitcoin ETF launch in the U.S. The Securities and Exchange Commission is likely to decide on nearly a dozen spot ETF applications by Jan. 10, potentially opening doors for widespread adoption of the asset class.
Bitcoin (BTC) Price Is In a ‘Bore to Death’ Phase. When Will the BTC Rally Resume?
The current period resembles the action from April through September of 2023 when bitcoin was stuck in the $25,000-$30,000 range...