Potential Bitcoin ETF Selloff
"we could see more selloff today. Bitcoin ETFs still hold $54 billion, which is good, but also means they still have a lot of Bitcoin they could sell."
ℹ️ In shortBitcoin ETFs still hold $54 billion, meaning they could sell a significant amount of Bitcoin, potentially leading to further selloffs.
Predictions closed
For informational purposes only. Not investment, financial, legal or tax advice. Full disclaimer
… inuing from the ETF providers and they don't care about an oversold daily RSI. They don't care about all the other charts I'm about to share with you right now. Have a look at this. Inflows into Bitcoin ETFs largely stopped from May 7th. Since that time, over 5.6 $6 billion of Bitcoin has been sold by Wall Street, $396 million yesterday alone, and we could see more selloff today. Bitcoin ETFs still hold $54 billion, which is good, but also means they still have a lot of Bitcoin they could sell. Even if you see another $5 billion outflow, that's $5 billion outflow with very few buyers on the other side of it. That's the problem because everybody is waiting for 38K or 40K to buy, which would be the standard bare market draw down. Now, we do have the Clarity Act coming. Could be a month away. Could be the big catalyst that turns the crypto …
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