However, Jim Cramer also mentioned that some people will take this opportunity to sell Bitcoin and make a profit. Previously, analysis firm CryptoQuant cited several data points and believed that BTC has a risk of a downward correction, which may result in the Bitcoin spot ETF becoming a “sell the news” event. Arthur Hayes, the founder of BitMex, also stated in a recent interview with Unchained that if a Bitcoin ETF is approved, BTC may not immediately rise, but in the long term, it is still bullish because it will provide a good investment channel for those who want to earn fiat currency.
"Jim Cramer's Bullish Call on Bitcoin: Will a Bitcoin Spot ETF Bring Unlimited Upside?"