Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Women in Crypto => Topic started by: yohananaomi on January 23, 2024, 02:08:43 AM
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Fidelity’s (FBTC) and BlackRock’s iShares Bitcoin Trust (IBIT) have both had over $1.2 billion in inflows in the first six days of trading.
exchange-traded funds (ETFs) now collectively hold 95,000 Bitcoin after six full days of trading, with assets under management (AUM) approaching $4 billion.
Bitcoin ETFs amass 95,000 BTC in 6 days, approaching $4B AUM
In data disclosed by Eric Balchunas, a senior ETF analyst at Bloomberg, the capital influx into the recently launched ETFs has surpassed the outflows from the Grayscale Bitcoin Trust (GBTC). GBTC’s assets under management have decreased by $2.8 billion in the first six days of trading.
Among the ETFs, Fidelity’s (FBTC) and BlackRock's iShares Bitcoin Trust (IBIT) have both had over $1.2 billion in inflows. Although FBTC has slightly higher inflows, IBIT currently has more AUM, with $1.4 billion compared to Fidelity’s nearly $1.3 billion.
see diagram:
(https://i.imgur.com/oPmIR0u.png)
But what also raises the question is: why did the BTC price actually fall to $39,759? What happened to this situation?
Even though this is still in the early stages, what do you think, and what analysis do you predict in the future with this ETF?
Link :
ETF Bitcoin (https://cointelegraph.com/news/bitcoin-etfs-amass-95-000-btc-in-6-days-approaching-4b-aum?)
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But what also raises the question is: why did the BTC price actually fall to $39,759? What happened to this situation?
Even though this is still in the early stages, what do you think, and what analysis do you predict in the future with this ETF?
Link :
ETF Bitcoin (https://cointelegraph.com/news/bitcoin-etfs-amass-95-000-btc-in-6-days-approaching-4b-aum?)
Don't worry, friends, usually when this is a Whales game, the logic is like this:
-ETF will accept the legitimacy of Bitcoin = Good News
-ETF invalidates Bitcoin = Bad News
-ETF has accepted the validity of Bitcoin = Good News
After this, ETF will definitely look for more profits by looking for Bad News, so what?
So, that ETFs and others can buy more Bitcoin when the price dumps. This is only my experience.
This Whales strategy has been around since I got to know Bitcoin, this is only temporary because later Bitcoin will rise again and can easily reach a new All Time High.
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Don't worry, friends, usually when this is a Whales game,
There is a lot of news about Bitcoin spreading around and it makes us dizzy to digest it, sometimes we also like to see that Bitcoin has good news but the price of Bitcoin goes down.
Or vice versa, when there is bad news but the price of Bitcoin goes up, I think this is very natural for the price of Bitcoin since it was first traded, maybe when buying pizza it wasn't exactly 10,000 Bitcoin.
What surprised the OP was perhaps when the news was published by a well-known company like ETF, if the well-known company had good news then Bitcoin should have gone up but instead it went down and this is what made the OP shocked and confused.
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Don't worry, friends, usually when this is a Whales game,
There is a lot of news about Bitcoin spreading around and it makes us dizzy to digest it, sometimes we also like to see that Bitcoin has good news but the price of Bitcoin goes down.
It's not just you who feels dizzy when we see the market being shaken by various bad news and good news, but all members will also feel dizzy and nervous.
Moreover, news from ETFs always makes noise in various markets and as you can see that Bitcoin has also fallen to a price difference of around 9,696 USD, surely you are also feeling panic, right?
I have to get used to the price of Bitcoin because Bitcoin has an unstable price, we just don't know when it will go up and down.
OP also provides pretty good information on Bitcoin prices because all investors who trade in the ETF market all buy Bitcoin with large capital, such as: Fidelity's, BlackRock's iShares Bitcoin Trust and Grayscale.