Slowdown in Bitcoin ETF Outflows
"When that outflow streak ends, and data suggests it's certainly slowing down significantly in recent days. Uh Friday last week, we had $82 million in. This week's kind of started off with some more outflows, but overall we've gone down from half billion dollar outflow days to 50 million or 100 million. So, we've had a huge slowdown in the selling."
ℹ️ In shortBitcoin ETF outflows are significantly slowing, with smaller daily amounts, suggesting selling pressure is diminishing as sellers exhaust themselves.
Predictions closed
For informational purposes only. Not investment, financial, legal or tax advice. Full disclaimer
… ETF outflows represent forced selling for the most visible, most reported, most sentiment-driven corner of the Bitcoin market. These aren't long-term believers. These are allocators who move money in during the hype cycle, moved it out when the thesis stopped working on a 90-day time frame. That's it. When that outflow streak ends, and data suggests it's certainly slowing down significantly in recent days. Uh Friday last week, we had $82 million in. This week's kind of started off with some more outflows, but overall we've gone down from half billion dollar outflow days to 50 million or 100 million. So, we've had a huge slowdown in the selling. So, the incremental seller that was dominating price action is disappearing, not because a buyer showed up, but because the sellers are exhausting themselves. Everybody who wants to sell has largely sold at this point. Standard Charters Jeffrey Kendrick put a number on it this week. said $59,000 to $61,500 is now a confirmed structural floor for B …
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