A Flash Dump Or The Long Awaited Correction?

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I don't know if I should call yesterday's dip a flash dump or a correction, but whatever it is, it's been a long time coming. Well, the market is reacting in ways it should, the ETF rumors have strongly become a trend and a strong indicator of how positive or negative the market is reacting. We started the year with the news that the ETF approval was four days away and just 2 days later, a massive rumor spread that we might not see the ETF approval anytime soon, BTC strongly reacted with a dump and the alts followed too.

It's funny

but we always know crypto to be firstly sentimental before anything, but it's surprising how people think it'll be so easy to approve the ETFs when there's no concrete evidence of anything smooth between Blackrock and the SEC. for all we know, if it were up to Gensler, we might not see any approval, but the way it is, we will inevitably see the ETFs being approved, the Only problem is the timeframe as it might be delayed more than anyone thinks.

I wrote in one of my posts two days ago that the spot ETF might be approved after the halving close to the end of the first quarter, and boom, two days later, we got a dump. I was merely playing the devil's advocate and stating an unpopular opinion. But with my current analysis, I might just be spot on.

I think there are strong forces away from market sentiment that currently want BTC to remain the way it is, or dump which is even better for them, why?

This is because I still believe a lot of players have not entered the crypto market and they're lining by the corridors waiting for a price dump to happen. One of the reasons why I think the spot ETF approval will herald a push to 50k and beyond for BTC is that it's been proven that a lot of people are banking on the success of the approval to prove that BTC will progressively enter the bull market phase. This to me is very erroneous.

However we haven't completely talked about the other adverse packages that come with ETF, the market sentiment is only seeing it as a catalyst to act as a forerunner to the bull market. I mean, everyone is emotionally hooked and obsessed with having the bull run so much that we do not believe the spot ETF is what will make it happen.

In reality, the sentiment attachment of the ETF's relevance is no longer being underestimated, even if 50% of the people who are currently clamoring for it do not know what it means, what it aims to do, or what it is supposed to influence.

Why not?

Of course, Do Kwon and SBF really did people dirty, and this suffering has brought about the feeling of deservedness of the bull market.

For me, this dump is not surprising at all, and anyone who wasn't expecting it is a fool.

The funny thing is, we might still dump to 40k or not, but it's definitely not a tilt into regression or the beginning of something fishy. We have left the bears, and anything from now onward is one step backward and 4 steps forward. The market is poised for a gargantuan run, but this doesn't mean there won't be dips here and there, the ETF rumors will also be there, contributing to dips, dump and push.

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