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According to CryptoQuant's report, the total value of the crypto market could exceed $1 trillion if spot Bitcoin ETFs are approved. The entry of Bitcoin ETFs into the market could lead to Bitcoin becoming a $900 billion asset. This report states that the next stage of institutional adoption could be spot ETFs, which provide Bitcoin access to customers through financial institutions. A number of major financial institutions have applied to offer spot Bitcoin ETFs in the United States, with potential approvals expected by March 2024 at the latest. CryptoQuant predicts that these ETFs could bring large capital inflows to the market and push the price of Bitcoin into the $50,000 to $73,000 range. In previous bull markets, Bitcoin's value has increased 3 to 5 times due to the impact of new capital. As a result, these developments hold great potential for Bitcoin's future.
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