The content discusses the potential impact of spot ETF approvals and the SEC’s appeal of the recent Ripple ruling on Bitcoin prices. It suggests that spot ETF approvals could cause prices to soar, while an unfavorable outcome from the SEC’s appeal could lead to a major selloff. The article also mentions a decrease in Bitcoin exchange deposits, indicating a possible slowdown in sell pressure, but warns that more sell pressure could occur in the case of an unfavorable outcome. The author emphasizes the difficulty of predicting the market based on on-chain data and suggests that significant news, such as regulatory-related or spot ETF-related news, will likely drive the next major Bitcoin price move.

AI Sentiment: Negative