Among buzzing news radar, BTC ETF has been one significant aspect that would, perhaps, herald the inflow of institutional funds into crypto-avenues. While there may be abundant BTC to invest in. The printing of USDT may not be sufficed, and neither can be the creation of TrueUSD (TUSD) tokens, where the supply is also apparently driven by real fiat investments. ETF is all set to be approved, as a result, we could essentially foresee a massive bullish potential if the approval isn’t a lock-down scenario.

Majority of the cryptocurrencies’ prices, such as BTC, ETH, LTC, XLM, and EOS have crashed and record the one of the worst correction in its history.

We’ve observed the sharp price in BTCUSD pair on the eve of launching the CBOE and CME bitcoin futures market. Thereafter, the abrupt shift in trend from a bullish market to a strong bear cycle was observed ever since the launch in December 2017 (considerable slumps from the highs of $20k to the recent $5,755 levels).

Late last year, the cryptocurrency market surged to $900 billion in valuation when BTC reached its all-time high to 20k. One can’t rule out that the real impact of Bitcoin futures was the price of bitcoin, achieved $20,000 during its announcements of CME introducing futures contracts and the price of ether broke $1,400. But, in January, the price of cryptocurrencies started to drop, eventually recording a 70 pct correction within a seven-month span.

BTC prices are prone to wild price swings. Hence, the spot trading is open to the hazard of realizing massive losses if the price trajectory follows an unfavourable path. Many veterans reckon that Bitcoin futures contracts offer a path to the asset without the issue of volatility.

This price volatility is nothing to do with the introduction of CME and CBOE BTC futures as BTC contracts are currently cash-settled, which means that there is no movement of the underlying asset. Thus, the futures market has no adverse effect on asset volume.

For Bitcoin, the hot news flashed in the recent past on the heels of the SEC asking for perspectives on the new ETFs. In response, the US regulatory authority has received a flurry of constructive comments from the cryptocurrency fanatics for the approval of Bitcoin ETFs.

On the back of this news, the institutional money inflow in a fully legalized asset like an ETF would be an indication of authenticity. Some traditional finance firms have made forays into Bitcoin, but those were mostly small-scale test investments. A couple of analysts reckons that the bitcoin futures market eventually led the impetus in the cryptocurrency bearish market.

Currency Strength Index: FxWirePro's hourly BTC spot index is flashing 36 (which is bullish), while hourly USD spot index was at 56 (bullish) while articulating (at 07:01 GMT). For more details on the index, please refer below weblink:

http://www.fxwirepro.com/currencyindex