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
Forwarded from Watcher Guru
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JUST IN: 🇺🇸 Gary Gensler says Bitcoin is a highly speculative volatile asset used for illicit activity.
@WatcherGuru
@WatcherGuru
Gary is butthurt and Cramer is giving us what we need for the next wave up. Good day :)
DiveInDefi
We have been macro up only for 12 months. Either way, I would be very surprised if we do not get a big retracement soon again.
Maybe something like 2017/2018 when btc peaked at Christmas with a altseason an January and then big retracement. However, I do not see a long-term bear market next year but a bigger retracement before further up only.
Maybe something like 2017/2018 when btc peaked at Christmas with a altseason an January and then big retracement. However, I do not see a long-term bear market next year but a bigger retracement before further up only.
Still on track here. BTC peaked 1 week later and I doubt BTC will make new ATHs anytime soon. It is go full retard mode on alts now.
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$XRP update for my friends O, B and D ❤️
XRP is overdue and we need to break this resistance for a major leg up. I bought a lot in the past months after never holding a single XRP just because it has underperformed so much.
Honestly speaking, I think as soon there will be talks about an ETF with major altcoins that will include XRP, we are getting true fomo. Aside from this, I can totally see XRP underperforming the market for a few more days/weeks. Very hard to tell. No momentum whatsoever. Market is buying ETH and Cosmos coins.
XRP is overdue and we need to break this resistance for a major leg up. I bought a lot in the past months after never holding a single XRP just because it has underperformed so much.
Honestly speaking, I think as soon there will be talks about an ETF with major altcoins that will include XRP, we are getting true fomo. Aside from this, I can totally see XRP underperforming the market for a few more days/weeks. Very hard to tell. No momentum whatsoever. Market is buying ETH and Cosmos coins.
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Oh yeah, Ripple foundation dumps a load of their XRP on a regular basis to fund their business and now they buy back their shares. They are not pumping the coin. It will do okay and the downside is somewhat limited. But nothing I would bet big on.
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Forwarded from Alpha
RIPPLE TO BUY BACK $285 MLN OF ITS SHARES FROM INVESTORS, VALUING COMPANY AT $11 BILLION - SOURCES - RTRS
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When BTC gets slaughtered and you see many alts still in green. There are two options:
1. We are absolutely going to get rekt in the next days with doomsdays
2. Alt season is about to go absolutely nuts.
If you ask me, I wish and I do believe 2cnd is going to happen. I totally feel like 2017/2018. When everything is too good to be true, it is time to sell. For me, it is not to good to be true, yet. Only a few fresh alts have pumped a lot so far. Many others have not even remotely went vertical.
1. We are absolutely going to get rekt in the next days with doomsdays
2. Alt season is about to go absolutely nuts.
If you ask me, I wish and I do believe 2cnd is going to happen. I totally feel like 2017/2018. When everything is too good to be true, it is time to sell. For me, it is not to good to be true, yet. Only a few fresh alts have pumped a lot so far. Many others have not even remotely went vertical.
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