DiveInDefi
Count wise we might get 2 more rejections tho as usual on breaking a historic resistance. TA works less good on stocks than it does on crypto, though. We will see.
Unfortunately, this was right as well so far
Forwarded from CryptoQuant Alert
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DiveInDefi
People expect a pump. If it doesnt, we probably get the first correction
I think it seems like we obviously have a sell the news. It started today, the question basically is how long it lasts. People are disappointed and ETFs have very low volume so far. Loads of hype which of course cannot be met in the first day.
The ETFs (if at all) only work in the long run. Companies and other entities that have not been able to acquire BTC over "shady" existing cex's might use them to start acquiring BTC as a position in their asset sheets. Maybe it even becomes a part of some major ETFs like the MSCI world or others? That is where the real money flows in. But anyone that wanted BTC badly, already purchased them somehow over existing CEXes.
It needs time to make an impact, adversly to making a huge impact on day 1 which of course would have been the most bullish scenario that has been proven wrong for now.
The ETFs (if at all) only work in the long run. Companies and other entities that have not been able to acquire BTC over "shady" existing cex's might use them to start acquiring BTC as a position in their asset sheets. Maybe it even becomes a part of some major ETFs like the MSCI world or others? That is where the real money flows in. But anyone that wanted BTC badly, already purchased them somehow over existing CEXes.
It needs time to make an impact, adversly to making a huge impact on day 1 which of course would have been the most bullish scenario that has been proven wrong for now.
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DiveInDefi
Next rejection on SUI as expected. Next pump might do it, if not we get another last dip but this should seal the deal for new highs✌️
Gotta love the accuracy on those. Next targets marked in chart. We might just fly hard the next weeks anyawys as SUI is not far from price discovery.
GZ Eztic :)
GZ Eztic :)
Forwarded from Watcher Guru
JUST IN: Spot Bitcoin ETFs trading volume surpasses $4.5 billion in the first day of trading.
@WatcherGuru
@WatcherGuru
Watcher Guru
JUST IN: Spot Bitcoin ETFs trading volume surpasses $4.5 billion in the first day of trading. @WatcherGuru
According to Coingecko, we had 52 billion today on all traditional exchanges. That is not even 10% on the first day of ETFs. Let's see how this evolves..
https://x.com/degentheory/status/1745457995394539898?s
Q: When are the BTCs sourced from the ETFs:
A: Might differ between the ETFs and their management.
It is pretty likely that all the BTCs bought today though ETFs have been sourced in the past weeks. Meaning (if there was a lot of buying), those BTCs were already purchased.
This means, there was likely 0 buying from the ETFs today. Basically everyone who expected the ETFs to produce buying pressure today, would have simply had the wrong expectations.
In the future further buying will likely produce buying pressure. Those BTCs will likely be settled (purchased) after the trading days.
Q: When are the BTCs sourced from the ETFs:
A: Might differ between the ETFs and their management.
It is pretty likely that all the BTCs bought today though ETFs have been sourced in the past weeks. Meaning (if there was a lot of buying), those BTCs were already purchased.
This means, there was likely 0 buying from the ETFs today. Basically everyone who expected the ETFs to produce buying pressure today, would have simply had the wrong expectations.
In the future further buying will likely produce buying pressure. Those BTCs will likely be settled (purchased) after the trading days.
X (formerly Twitter)
degentheory (@degentheory) on X
@EricBalchunas at what point are etf buys actually converted to purchases of btc? at market close?
DiveInDefi
https://x.com/degentheory/status/1745457995394539898?s Q: When are the BTCs sourced from the ETFs: A: Might differ between the ETFs and their management. It is pretty likely that all the BTCs bought today though ETFs have been sourced in the past weeks.…
And yes, Coinbase hat 7 billion OTC BTC purchase today. There is your sourcing. Not market bought.
DiveInDefi
And yes, Coinbase hat 7 billion OTC BTC purchase today. There is your sourcing. Not market bought.
(OTC = over the counter) did not go through a market and also doesn‘t show in regular trading volumes
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Forwarded from Watcher Guru
DiveInDefi
We made it over the resistance again and it is looking like we are forming an ascending triangle here. This is super good news for ETH - finally. One more thing on sell the news psychology: people want to speculate and get hyped - this works best on some…
Haha took 1 day after the BTC etf 🤣
Forwarded from Watcher Guru