Summary
According to Laurent Ksiss of CEC Capital, if the price of Bitcoin continues to rise and reaches $45,000, early investors in the Bitcoin ETF could start making profits and trigger a reversal in the market. This could potentially lead to a test of the $42,000 to $40,000 level.
Key Points
1. Breaking $45,000 level in bitcoin allows early investors in the bitcoin ETF to potentially see profits and be “in the money”.
2. Continued ascent in price may lead to profit taking and trigger a reversal, potentially testing the $42,000/$40,000 level.
3. Laurent Ksiss, a crypto ETP specialist at CEC Capital, suggests that the breaking of $45,000 level could have significant implications for bitcoin’s price movement.