This is a very large number of bitcoin holdings going for the spot bitcoin ETF and we should expect a big change from the market in the soonest before the bull run or probably after it. Owning such a large number of bitcoin by a centralized entity signifies a very big impact in the market when they want to move the market in their favor.
For now, I expect to continue seeing more and more buying until the current ATH is exceeded, we could get a new ATH by next year but i expect a fall in the price when these investors want to take profit from their investment through the spot ETF. It is very important to be cautious until the massive sell off from these investors looking to make profit at when due immediately.
Topic: Bitcoin Spot ETFs hit $10 Billion milestone just one month after approval - page 2. (Read 242 times)
February 11, 2024, 07:10:05 PM
February 11, 2024, 06:23:28 PM
technically all ETF always had over 190,000btc
grayscale had >640,000 from day one
only difference is that now OTHER ETF have 190k+ total and grayscale scale is down to 466,534
in short.. all etf have not accumulated that many new coins that were not already locked up for years via potential ETF
grayscale had >640,000 from day one
only difference is that now OTHER ETF have 190k+ total and grayscale scale is down to 466,534
in short.. all etf have not accumulated that many new coins that were not already locked up for years via potential ETF
Do you recon that was money which was vouched from day 1 of the ETF applications
id say $2billion were of grayscale (owned by DCG) baskets, where DCG sold its positions to get cash out(civil costs and court order fines and debt payoffs)
where by other AP bought the sudden influx of coin on coinbase prime OTC to then put into other ETF
id say $6b was AP's already invested in grayscale when it was a closed trust, finally escaping, and then trading it back into other ETF
id say $2b was probably new AP signing upto grayscale to buy other shares unallocated and then exiting grayscale to go to other ETF
AP's entering blackrock were on a transfer of $100m a day on average, although friday seen them bring in $200m of coin
so id say, yes there was probably some back-yard chats and deals done between grayscale and other AP's wanting to exit but were told to only leave in queue order or to a daily basket limit amount per day
February 11, 2024, 05:54:42 PM
technically all ETF always had over 190,000btc
grayscale had >640,000 from day one
only difference is that now OTHER ETF have 190k+ total and grayscale scale is down to 466,534
in short.. all etf have not accumulated that many new coins that were not already locked up for years via potential ETF
grayscale had >640,000 from day one
only difference is that now OTHER ETF have 190k+ total and grayscale scale is down to 466,534
in short.. all etf have not accumulated that many new coins that were not already locked up for years via potential ETF
Do you recon that was money which was vouched from day 1 of the ETF applications
and as soon as they went live the monies were released into the ETF's?
From here on it should be new purchases, just in time for post halving.
Now ask yourself how many coins will these people sell during the bull run. They are professional investors, unlike Bitcoin hodlers who set unrealistic price goals, these people will not miss out on an opportunity to take good profits. So don't listen to Cathie Wood or Michael Saylor when they predict where the next ATH will be, because they will sell way below that and crash the market.
I would say that there are a mixed lot, like ourselves here on the forum, some will sell
and take profits to buy back at a later stage, others will HODL with a long term view
and others might do a mix of both, sell some and HODL some.
Thats maybe not how it works at all.
February 11, 2024, 05:53:00 PM
Now ask yourself how many coins will these people sell during the bull run. They are professional investors, unlike Bitcoin hodlers who set unrealistic price goals, these people will not miss out on an opportunity to take good profits. So don't listen to Cathie Wood or Michael Saylor when they predict where the next ATH will be, because they will sell way below that and crash the market.
coins locked into a ETF already made their money back..
yes they bought 190k from mostly grayscale in a month.. but even while locked into a custodian. they then sold shares. so they have their money back already. (via share sales)
February 11, 2024, 05:39:31 PM
Now ask yourself how many coins will these people sell during the bull run. They are professional investors, unlike Bitcoin hodlers who set unrealistic price goals, these people will not miss out on an opportunity to take good profits. So don't listen to Cathie Wood or Michael Saylor when they predict where the next ATH will be, because they will sell way below that and crash the market.
February 11, 2024, 05:35:35 PM
https://mempool.space/block/000000000000000000011d55599ed27d7efca05f5849b755319c89eb2cffbc1f
We are only 10,000 blocks left until halving!!!
We are only 10,000 blocks left until halving!!!
2016 blocks =~ a fortnight
less than 5 fortnights (10 weeks) to go
February 11, 2024, 05:18:45 PM
Yes the last 2 days we got almost $1B in positive flows. I am surprised. Most likely this week we will attempt to break the yearly high and head towards the $50K area.
I expect a fakeout to 50k region to wipe out the shorts, then a breakdown from a mixture of events. I think Mt Gox + dramatic interest rate rises are the likely catalysts for a breakdown, wiping longs out before the bull run goes into full swing.
As long as we get positive flows everyday in the 9 fig range then we should keep rallying and the FOMO will start. Then if we break the ATH people will be buying because they will expect that we get at least $100K. But if the flows start to turn negative again then we might be topping out again. However with the stock market hitting new highs we should keep pumping.
Is there a realtime/live graph of cumulative total inflows for all spot ETFs? It'd be good to track this metric a little more closely.
FOMO has already started when it was approved last month, and in a month's time we have felt the effect of that. This institutions have capitalize on news and rumors already. And all the signs have been pointing to a good pump before the halving. And those speculators who have predicted that we might hit $50k prior to that activity, might be actually right after all.
So "moonboys" be ready now,
So "moonboys" be ready now,
I do have a feeling that the forces aiming to capitalize most from this market do need to break that FOMO in order for maximum value. Wiping all longs out now before a bull run could be extremely profitable for these forces...
https://mempool.space/block/000000000000000000011d55599ed27d7efca05f5849b755319c89eb2cffbc1f
We are only 10,000 blocks left until halving!!!
...damn, time goes quickly!
February 11, 2024, 05:15:20 PM
technically all ETF always had over 190,000btc
grayscale had >640,000 from day one
only difference is that now OTHER ETF have 190k+ total and grayscale scale is down to 466,534
in short.. all etf have not accumulated that many new coins that were not already locked up for years via potential ETF
grayscale had >640,000 from day one
only difference is that now OTHER ETF have 190k+ total and grayscale scale is down to 466,534
in short.. all etf have not accumulated that many new coins that were not already locked up for years via potential ETF
February 11, 2024, 05:04:45 PM
Yes the last 2 days we got almost $1B in positive flows. I am surprised. Most likely this week we will attempt to break the yearly high and head towards the $50K area.
As long as we get positive flows everyday in the 9 fig range then we should keep rallying and the FOMO will start. Then if we break the ATH people will be buying because they will expect that we get at least $100K. But if the flows start to turn negative again then we might be topping out again. However with the stock market hitting new highs we should keep pumping.
As long as we get positive flows everyday in the 9 fig range then we should keep rallying and the FOMO will start. Then if we break the ATH people will be buying because they will expect that we get at least $100K. But if the flows start to turn negative again then we might be topping out again. However with the stock market hitting new highs we should keep pumping.
FOMO has already started when it was approved last month, and in a month's time we have felt the effect of that. This institutions have capitalize on news and rumors already. And all the signs have been pointing to a good pump before the halving. And those speculators who have predicted that we might hit $50k prior to that activity, might be actually right after all.
So "moonboys" be ready now,
https://mempool.space/block/000000000000000000011d55599ed27d7efca05f5849b755319c89eb2cffbc1f
We are only 10,000 blocks left until halving!!!
February 11, 2024, 04:37:30 PM
Yes the last 2 days we got almost $1B in positive flows. I am surprised. Most likely this week we will attempt to break the yearly high and head towards the $50K area.
As long as we get positive flows everyday in the 9 fig range then we should keep rallying and the FOMO will start. Then if we break the ATH people will be buying because they will expect that we get at least $100K. But if the flows start to turn negative again then we might be topping out again. However with the stock market hitting new highs we should keep pumping.
As long as we get positive flows everyday in the 9 fig range then we should keep rallying and the FOMO will start. Then if we break the ATH people will be buying because they will expect that we get at least $100K. But if the flows start to turn negative again then we might be topping out again. However with the stock market hitting new highs we should keep pumping.
February 11, 2024, 04:24:24 PM
All the US spot bitcoin ETFs now hold a combined total of 192,000 bitcoin assets under management, recently surpassing Microstrategy's holdings of 190,000.
The difference is it took Michael Saylor two to three years to amass that amount. The Spot bitcoin ETFs did it in one month! That is crazy.
To say the spot ETF launch has been a success would be an understatement. It may be the most successful spot ETF launch in history.
How many bitcoin do you think these funds will hold by the end of the year? Over a million? The sky is the limit.
https://cointelegraph.com/news/bitcoin-etfs-hit-10b-milestone-just-month-after-approval
The difference is it took Michael Saylor two to three years to amass that amount. The Spot bitcoin ETFs did it in one month! That is crazy.
To say the spot ETF launch has been a success would be an understatement. It may be the most successful spot ETF launch in history.
How many bitcoin do you think these funds will hold by the end of the year? Over a million? The sky is the limit.
https://cointelegraph.com/news/bitcoin-etfs-hit-10b-milestone-just-month-after-approval
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