TechFlow news, Bitget CEO Gracy Chen was invited to appear on Bloomberg TV. During the interview, Gracy mentioned that Bitcoin's fluctuation around the $100,000 mark reflects strong short-term "arbitrage" sentiment in the market. She noted that especially for large whale investors who started accumulating positions since 2022—whose average holding cost is only about $20,000—despite potential relaxation in U.S. cryptocurrency regulation going forward, ongoing uncertainties remain a key consideration for investors, leading some to take profits at current price levels.
Meanwhile, Bitcoin’s recent performance has created more opportunities for altcoins. However, regarding market rumors that ETFs for altcoins such as DOGE and SOL might be approved soon, she believes significant challenges remain:
First, the order of approvals: Based on the experience with Bitcoin and Ethereum ETFs, mainstream markets typically approve futures ETFs first, followed by spot ETFs for the underlying assets. Futures ETFs for these altcoins have not yet been approved.
Second, regulatory divergence: Some regulators still debate whether tokens like SOL qualify as securities, which could impact the approval process.
Third, market manipulation risks: Most altcoins are less decentralized than BTC and ETH, making them relatively more susceptible to market manipulation.
