Bitcoin’s price recently surged past $35,000, but a potential correction to $33,000 is looming. Market sentiment has been mixed, and the re-listing of BlackRock’s iShares ETF on the DTCC market plays a pivotal role in this volatility.
Bitcoin’s price, symbolized as BTC, witnessed a resurgence, surpassing the $35,000 mark, after a recent dip. Market sentiment appears uncertain, with the possibility of a correction to $33,000 on the horizon. This fluctuation in Bitcoin’s value is tied to the re-listing of BlackRock’s iShares ETF on the Depository Trust and Clearing Corporation (DTCC) market.
📰 #Crypto markets have continued to stay high Wednesday. #Bitcoin and other prices are being fueled by optimism surrounding the impending exposure rise from probable #ETF listings. With #Blackrock's #iShares relisted on the #DTCC, we saw yet another boost. 📈… pic.twitter.com/XVfy7tKOBA
— Santiment (@santimentfeed) October 25, 2023
The DTCC, a US-based financial clearing and settlement services provider, briefly hosted the iShares ETF, leading to speculation that the ETF application might receive expedited approval. However, the optimism was short-lived as the listing was swiftly removed, and the U.S. SEC imposed a $2.5 million fine on BlackRock, unrelated to the DTCC listing.
Despite Bitcoin trading at $34,445 at the time of writing, the crypto fear and greed index surged to 71, indicating a shift in market sentiment. This index, ranging from 0 to 100, helps gauge market emotions and potential entry and exit points. Values above 50 suggest greed and may signal an impending correction.
This recent price movement challenges historical trends, as Bitcoin navigates an ever-evolving market landscape.
