Morgan Stanley's Bitcoin ETF MSBT Shows Strong First Day Performance
- First Day Trading Volume: Morgan Stanley's Bitcoin ETF (MSBT) achieved a trading volume of $27 million on its first day, with expectations to easily surpass the $30 million estimate by the end of the trading day, indicating strong market demand and investor interest.
- Potential Market Performance: Analysts predict that MSBT's daily trading volume could approach $50 million, placing it in the top 1% of all ETF launches, reflecting its popularity and market acceptance among investors.
- Historical Comparison: Compared to other strong-performing ETFs like the Defiance Bitcoin Strategy ETF (BSOL) and VanEck XRP Strategy ETF (XRPC), which also reached around $60 million in their initial trading days, MSBT's opening performance demonstrates a similar robust start in the market.
- Settlement Period and Options Market: While MSBT utilizes a T+0 settlement system, analysts noted that the iShares Bitcoin Trust (IBIT) dominates the options market with approximately 97% of total option volume, suggesting that the new ETF's options market activity will require time to develop.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 6 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 70471.628 | 72704.574 | 75019.768 | 77252.714 | 79567.908 | 81800.854 | 84116.048 |
| Fibonacci | 72704.574 | 74441.963 | 75515.325 | 77252.714 | 78990.103 | 80063.465 | 81800.854 |
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