I do agree that Bitcoin is too hot to handle for them to do these ETF products. It is strange in some respects because certain things don't look that positive but then other things like today thing are coming back to life and that sense of FOMO hits. Arthur Hayes put in a short position previously for BTC to go to 50K which I never try to short or bet against this stuff like that.
Also with all these black swan events that seem to happen once a month it does get confusing how explosive this stuff could get.

A lot of people are looking at the election as an indicator for sure but when you look at the Google trends for search terms like Bitcoin it doesn't look good. Also a lot of the volumes on the alts haven't been impressive but we are seeing some signs of life. Also there is the fact that people are out of money essentially and the layoffs will continue to ramp up so all that is hard to factor in. Really hard to say overall and we are all fighting to not be all gums after getting our teeth kicked in by inflation.