Examples of the “Sell the News” events in crypto:
> Bitcoin CME futures (Dec/2017)
> Bakkt (Sep/2019)
> Coinbase IPO (Apr/2021)
> Bitcoin Futures ETF (Oct/2021)
> ETH “The Merge” (Sep/2022)
> ETH “Shanghai” (Apr/2023)
> Bitcoin Spot ETF (Jan/2024)
> ETH “Dencun” (Mar/2024)
> Bitcoin Halving (Apr/2024)
Historically and generally, “Sell the News” events have existed.
However, at least regarding ETFs, please discard the preconceived notion/bias. As seen with $BTC, it ultimately leads to price discovery.
The concept of “buy the news/sell the news” for ETF approval will likely become less relevant in the future. Market reactions will be minimal, and significant price movements will be less noticeable.
Simple as that
If the ETH ETF is delayed, it’s a great opportunity to buy the dips/DCA
@EricBalchunas
predicts that the SEC announcement will likely come around 4 pm ET tomorrow. For the spot BTC ETF, the announcement was made at 3:45 pm, and other past announcements were slightly after 4 pm.
Eth easily can hit 5k so…pump eth!
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