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The Etf Rumors Boosted The Value Of Bitcoin Back To $47,000.

The volatility in the price of Bitcoin is causing investors to adopt a cautious approach.

With the new rumors of Bitcoin ETFs causing fresh volatility, Bitcoin's price reached $47,000 again during the Wall Street opening on January 8.

A new liquidation warning for Bitcoin ETFs has been issued. According to the data, after a 3% intraday price increase in Bitcoin following an increased interest, the leading cryptocurrency gained upward momentum.

In a statement by Material Indicators X, it was mentioned, "ETF speculators won't be happy if approval doesn't come today. However, that news is most likely to come on Wednesday." The statement also indicated that this situation suggests being prepared for another potential asset flow, with whales focusing on buying at lower prices.

Material Indicators emphasized that last week's liquidations led to a significant reduction in open positions as leveraged long BTC positions were unwound. According to CoinGlass data, at the time of writing, the open position of Bitcoin futures increased by more than 8,000 BTC during the day, reaching 407,400 BTC.

Financial analyst Tedtalksmarco expressed curiosity about whether the magnitude of the increase would impact an early ETF decision. CoinGlass urged for liquidity to surpass the spot price quickly and highlighted potential outcomes if the market rapidly moves upward.

Despite the confidence in the launch of ETFs, prominent figures in the Bitcoin community are cautious. Hodlonaut, an advisor at The Bitcoin Advisor, expressed the expectation of more unreliable price movements after the decision, stating, "I would be surprised if there are no price absurdities related to ETFs." He also issued a warning, saying, "In previous periods where there was a consensus that there would be more price increases, there was an expectation of a rug pull. Avoid trading; it would be a bad choice."

James Van Straten, a research and data analyst at the cryptocurrency analysis company CryptoSlate, noted that the 1% decrease in the price of gold happened at the right time, considering whether market participants would turn to Bitcoin.

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