Bitcoin continues its epic surge after climbing 10% this week to break the $40,000 level for the first time since April 2022.
The primary driving narrative for the milestone is directly related to the imminent Bitcoin ETF approval, which has traders counting down the days for its arrival.
Meanwhile, a newly emerging token that gives direct exposure to the Bitcoin ETF approval gains momentum after sailing past the $2.4 million milestone.
Investors are rushing to Bitcoin ETF ($BTCETF) token as its growth is tied to real-world milestones related to the Bitcoin ETF, providing direct exposure to the monumental event.
Bitcoin Flies Past $40,000 As Bitcoin Spot ETF Approval Looms
Bitcoin officially climbed past the $40,000 level this weekend as traders continue to get positioned ahead of the Bitcoin ETF approval.
The breakout occurred over the weekend after Bitcoin surged from a low of $37,600 on Friday to reach as high as $40,200 on Sunday.
The breakout momentum continued to push Bitcoin higher today as it started to head toward $42,000.
With Bitcoin now breaking $40,000, traders are wondering where the resistance toward $45,000 is.
Looking ahead, the first resistance level lies at $42,000 – provided by the January 2021 highs.
This is followed by resistance at $42,885 (1.618 Fib Extension ), $44,000, and $44,750 (Feb 2021 support).
If the buyers continue to push $BTC beyond $45,000, added resistance lies at $46,730, $48,285, and $50,000.
What you'll learn 👉
The Countdown Starts for SEC Approval
The primary driving force behind the sudden drive higher is the looming Bitcoin spot ETF approval, which is expected to be delivered by the SEC around January 10th.
As a result, traders are starting to rush to get positioned in Bitcoin to gain exposure to the event, believing Bitcoin will be pushed higher once the first ETF is approved on US markets.
Traders are now starting the countdown to the approval, causing overwhelming hype and FOMO related to the event;
40 Days until the $BTC etf— Pentoshi 🐧 euroPeng 🇪🇺 (@Pentosh1) December 1, 2023
The denialists have not had the best of times the past months.
It's fair to assume we get another large move up as we get closer and those who have faded, and watched in complete agony since the lows capitulate in. Capitulation works both ways pic.twitter.com/A5SBO0oZjg
With FOMO officially kicking in, traders expect further higher moves over the coming days.
What Tokens Provide Direct Exposure to the Event?
While Bitcoin continues to rise, investors are looking for alternative vehicles other than Bitcoin to gain exposure to this monumental event.
In particular, Bitcoin ETF ($BTCETF) is emerging as the ideal candidate, raising $2.4 million in just one month.
Bitcoin ETF provides direct exposure to the SEC approval, with its growth tied to predetermined milestones related to the Bitcoin ETF approval through a unique burning and staking mechanism.
Investors Rush to Bitcoin ETF as Growth Tied to SEC Approval – $2.4 Million Raised.
Investors are rushing to the Bitcoin ETF presale, pushing the presale past the $2.4 million milestone this week.
The speedy surge beyond $2 million demonstrates the building hype behind this token as investors believe it can provide 50x returns the closer the Bitcoin spot ETF gets to being approved by the SEC.
Bitcoin ETF is a token that allows you to ready your wallet before the first Bitcoin ETF is approved, providing direct exposure to the event.
With the ETF turning into an actual probability, investors are eager to profit from the event, and Bitcoin ETF is one of the top options available to gain exposure.
Bitcoin ETF is a visionary project created to celebrate and capitalize on the arrival of the Bitcoin ETF in US financial markets.
The token supply is linked to major milestones, creating deflation the closer the ETF is to approval.
With five milestones highlighted, the smart contracts will burn 5% of the supply every time one milestone is achieved.
The following image showcases all of the milestones;
In addition to these milestones, $BTCETF has a 5% sales tax, which is reduced by 1% as each milestone is reached.
Furthermore, the staking mechanism adds another dynamic to the supply, as experts believe it might cause a supply shock for newcomers following the presale.
Overall, if you’re looking to profit from the Bitcoin spot ETF approval by the SEC, the Bitcoin ETF token is one of the ideal candidates.
The presale is currently selling the token for $0.0062.
However, the token’s price is expected to rise in just two days, so those investing earlier benefit from the lower entry prices.
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