Bitcoin has rallied after the rumor on Bitcoin futures ETF. Looking at SEC's ETF filing documents and Bloomberg's article, we believe the ETF will likely get approved.During the last 13 years of existence, a major sell-off took place after the launch of "futures" related products and major catalysts (i.e., Coinbase IPO, the launch of CME Bitcoin futures).We believe the peak is in and a huge sell-off will commence.Investors should consider taking profits when the irrational hype is at its peak and potentially get back into the bubble when there is blood in the street.Bitcoin futures-based ETF doesn't bode well for Bitcoin's future price action as it will take away demand from actual ownership of Bitcoin that drives the price higher.
