I have a little bit of Crypt Bitcoin breaking news for you. Some interesting things related to the Bitcoin spot ETF and two potential negatives of it that not many people are talking about. and I want to really dive into what it does mean, what it doesn't mean. But overall I would strongly argue, especially from a short-term technical perspective.

Things are still looking very very bullish. Bitcoin climbs near 44,000 as US Stocks nurse Biggest 3month loss overall. Crypto market capitalization crossed 1.7 trillion mark on Wednesday for the first time since May of 22. So interesting scenario in the recent history of crypto looking very strong and equities stocks got their balls kicked into their pelvis.

This is the equity market right here. $600 billion of market cap was lost in 2 hours. This is what went down on Wednesday December 20th from 2: p.m. to 4:00 p.m.

the final two trading hours of the day, there was hell to be paid between 2: p.m. and 400 p.m. The S&P 500 to raise 6 billion. I'm saying billion with a B of market cap.

To put this in perspective, the S&P 500 added 6 billion of market cap over the last week. So this is the classic saying of uh, stairs, up, elevator, down and this has a lot to do with u really? Market psychology and people not wanting to be the last person holding the Hot Potato So usually you see a bit more aggression to the downside because as people see their profits dwindling or their losses getting higher, they end up just really really running for the doors now. obviously very, very negative in the world of equities, at least in the short term. Overall, the Market's still been on a rip in the past couple of weeks, but if you look at Bitcoin looking very good, in fact, holding its breakout at the point that we're filming this: Bitcoin just below 44,000 market cap of 854 billion itself with the overall crypto market cap just below 1.7 in trillion.

But coming back to the technicals: I've been talking about this ever since Tuesday the 19th Wednesday The 20th Classic Trendline Breakout hold I'm looking at test for 45,000 above that, 48,000 above that the key Technical and psychological level of 50,000 flat. But what? I like here is the fact that it ripped, then it came down Consolidated I Would argue that it was just the point that the engine the rocket engines got a little bit too hot, but from there, higher, low, higher, low starting to break out. To me, these types of bullish shutups don't get easier than exactly what's on the screen right now. So my next test and that's exactly why I have an alert is set at 45,000 and then I would say that this uh breakout is potentially null and void.

if we get below and close below, uh, we'll just call it 42,000 So anyway, that's what's going on in the short term. And yes, like I said, I do want to talk about the spot Bitcoin ETF But first, I Just want to let you know that Bitwise actually dropped another Bitcoin related commercial with the world's most Interesting Man. So let's just play it real quick. Thought you would like to know Satoshi sends his regards Satosi look for Bitwise my friends.

So obviously the reason these are all rolling out right now is because of The Spot Bitcoin ETF And this is something not many people are talking about Recently, It seems like every single day one of the about dozen companies that are attempting to get a spot Bitcoin ETF are continually meeting with the SEC Black Rock has made a Bitcoin ETF approval a quote unquote key corporate priority according to Fox News Makes sense. This is a big money opportunity. so obviously these classic Financial players such as Black Rock obviously want a piece of that. P I Also thought this graphic was kind of interesting.

Complete Bitcoin ETF application list. So right now there's about 13. Feel free to check this out. it's on Altcoin daily screenshot it.

Check it out. But these are all the players right now that like seem to have a pretty realistic shot of getting the spot. Bitcoin ETF In terms of a timetable, we're kind of looking the time frame to be about mid January when the approval will ideally fingers crossed, go through, but then it'll probably take a couple weeks for them to actively start trading, just so everyone knows. Now let's get back to this main thing.

What are the risks? Because right now myself included, you're hearing a lot of positive things. Spot Bitcoin ETF Prices go up in Bitcoin the whole cryptosphere Rising Tide raises all shipped. We have these meme coin taking off fomo fervor, all that excitement and maybe sometimes people get a little bit too bought into it. So I Think just to be realistic because nothing in these markets is ever going to be guaranteed.

I Think we should talk about some of the potential negatives. and really, as you're about to see how they're not that negative, there are less than 3 weeks left until a potential approval of Spot. Bitcoin ETFs With many believing trading could begin not long after. However, Coinbase's Head of Institutional Research David and Senior sales Trader Greg said two key risks could appear once they begin trading.

First one, you need to buy Bitcoin from certain regulated places. What if demand is so great that these guys are unable to acquire the Bitcoin they need? Sutton said a second risk concerns one of the more popular institutional trading strategies known as the Basis Trade, which refers to taking advantage of the difference between the Spot bitcoin price and the price of Bitcoin Futures contracts. We actually see this a lot in the world of treasuries. Due to the massive uptaken volume of both Spot Bitcoin and Futures contracts, the potential profit of the Basis Trade has surged to as high as 20% in the last fortnite.

However, in institutional investors gain increasingly direct exposure to Bitcoin by way of the Spot ETF product, the basis will narrow, causing there to be far less profitability in the trade, and what they're saying is like hey, when there's more I guess assets and derivatives that are doing this, it'll be more easily arbitraged away, whatever that differential is. So at first this isn't saying that somehow the Spot Bitcoin ETF will prompt like lasting issues, but there is a chance of at first there being liquidity problems and also maybe just a little bit of craziness around the basis trade. But once again, as Things become more mature as there's more popularity in it as it really gets Market traction, these two potential issues, which is once again it's fair to consider, should kind of dissipate back into the ether I Don't want to get too ahead of myself I Don't want to be the person saying oh, guaranteed that like we're going to get this approval in January But even right now, the Bloomberg puts the odds at above 90% so it feels like that's going to be happening and obviously it might be by the rumors sell the news. Really? I'm not going to be an active Trader regarding this at all I'm still looking forward to large mass adoption within.

Wall Street Culturally societally obviously we have the having event coming up and even though I'm not like the biggest meme Trader Really I don't own any of these right now I Still think the crazy stories we just covered it of like one. D Gen Trader turned $450 into over $2 million. So those types of like just grandiose stories I Think it's interesting, it's exciting people like that and obviously I'm not saying that those are worthwhile Investments But they have big range and if you're looking to be a short-term Trader you need range to make serious money. So I think it's just exciting.

It feels like the crypto winter is kind of thawing out and you could just feel that excitement coming back in. So just wanted to share the most recent news in the world of crypto and more specifically, Bitcoin itself.