On December 20, according to a report released by K33 Research, the approval of spot bitcoin ETFs in January appeared to be "a certainty", and the January application update indicated that applicants had agreed to set up cash creation before the January 10 deadline. 
Vetle Lund, senior analyst at K33, and Anders Helseth, vice president, said: "Cash creation is not the most efficient structure, but the renewal of the applicant is a further signal in favor of the ETF being approved in the next three weeks. "In yesterday's article, we also elaborated on the news that spot ETF applicants are accepting a cash-created redemption mechanism, which clearly limits the reasons for the SEC's rejection. However, for the next large ** that may occur in the market, the coin thunder rod needs to remind us to be rational and not to blindly chase high. It's not necessarily that the market is "overestimating" the impact of BTC spot ETFs, but it's certainly inaccurate.
In view of the "dismal sales" of BTC spot ETFs in the Canadian market, traditional financial institutions led by JPMorgan Chase believe that BTC-related spot ETFs will also suffer a "Waterloo" in the United States. And some analysts believe that the "high volatility" of cryptocurrencies will "discourage" most investors. Coin Thunder Rod believes that under the premise of the passage of BTC spot ETF, it is entirely possible for BTC to break through $100,000 when the real bull market comes, but the market says that the $300,000, 500,000 or even $1 million coin Thunder Rod cannot be so high in the short term. In this regard, the Coin Thunder Rod's previous article has described that the simplest is that the US ETF market accounts for more than 90% of the global market share, which is completely incomparable to Canada. And the high volatility of cryptocurrencies can increase the popularity of BTC in some specific time periods.
However, the same coin thunder rod believes that the ** of cryptocurrencies will not be smooth sailing, and its cyclical nature will be difficult to "eliminate" in this round**, at least until the crypto-related laws are introduced or trillions of dollars of funds will not change in the ETF market. The crypto market continued on December 20, with BTC, ETH and SOL continuing to lead the way in terms of capital. As of the deadline, BTC** exceeded 26%, breaking through $43,630;SOL** exceeded 7%, breaking through $79.
ETH is relatively "conscientious", step-by-step and steady**, as of the deadline** about 25%, to around $2,245.
According to a previous report by the Coin Thunder Rod, it may be the reason for the bet of "Wall Street Capital", and SOL has a "no return" momentum that continues to rise. According to Coingecko data on December 20, the SOL market capitalization grew to $33,186,934,094, surpassing XRP's market capitalization of $33,021,191,450 and becoming the world's fifth-largest cryptocurrency by market capitalization. It is worth noting that the holdings of the top 20 SOL addresses have not changed for several weeks, accounting for 88% of the total SOL circulation98%。This is also the "epitome" of this round of *** doubling up all tokens, and there are more than 60% of the top 10 or 20 institutions and whales holding addresses in circulation.
With the current SOL momentum, the next target is $120. Then I can't help but have friends who ask whether it can go up?The Coin Thunder Rod believes that breaking through the $83 pressure level will follow the trend** to around $115. At the same time, there is a high probability that it will stop here in this round of pull-up. If all goes according to the Thunderrod conjecture, around $48 "**SOL may be a good choice. Coinbase has taken the lead in the SOL market, despite a report by the Coin Thunder Rods in early November that asset manager Vaneck published a SOL study that could reach as much as $3,200 in crypto by 2030. However, the Coin Thunder Rod insists that the "cyclicality" of cryptocurrencies will not be broken, and the passage of BTC spot ETFs will be a "critical event", and the market caused by profit-taking will dominate crypto in late January 2024. The simple reason is that capital cannot bet on "uncertainty" or immature markets for a long time. You might as well imagine that there are dozens of tokens that were once listed as ** by the SEC in the United States, why only SOL has risen so hugely?Is it because of its fast transaction speed and low fees?It can be said that as of now, and even in the next 5 years, the application of encryption technology will still stay at the "theoretical level", which means that what we are hyping at most is only a "concept", and the actual application scenarios basically do not exist before the launch of the global digital currency system.
Coin Thunder Rod Edit.
The above are personal opinions and do not !! investment advice
Thanks for your attentionThose who have different opinions are welcome to exchange !! private message
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