BTC: We buying,Grayscale Selling

[Gladitorcomeback]

We are were so bullish upon BTC ETF approval. We were thinking that ETF approval will attract many investors from the whole world to invest in btc which will increased the demand of buyer and btc will pump above 50k but we are seeing that from the next day of ETF successful approval btc price is dumping continually. At the time of writing this post btc trading around 40400. There is Big support around 40k, If it breaks we might see big dump.

Today I read news that Grayscale sold 52k btc around 2 billion $ in single week which could be major cause of btc. One thing is clear that these big whales entering into crypto not bringing positive change. When ther were small investors like us, the price pump from nothing to this stage but now many big names enters which not allow btc to break ATH.

Is this right time to sell ? If not what would be Strategy of Grayscale with current sale?

GRAYSCALE HAS ALREADY SOLD OF 52,000 #BITCOIN  

[Hamza2424]

Is this right time to sell ? If not what would be Strategy of Grayscale with current sale?

This is not the right time to sell the BTC, even if you are planning to sell some of your funds and then thinking to take entry at some dip then you might not get the opportunity to buy BTC at the price at which you might have bought them. We are not seeing BTC to go below $30k again. According to my analysis, we won't see BTC below that point until the next bear market. I might be wrong here but current sentiments are extremely bullish even in the short term they look bearish.

I think grayscale did not bought the BTC that they needed, they might have bought more than they needed, that's why now they are balancing there money flow and by selling these BTC they might do diversification into other funds, or they might get a news that ETH ETF is going to approve so they are reading there funds for that. There would be any reason for them, or they might have make enough profit from the current inflow of funds into there ETF share that they can sell these BTC to make extra money now.

[Faisal2202]

Is this right time to sell ? If not what would be Strategy of Grayscale with current sale?

Thanks for this news I did not know Grayscal sold that much amount of BTC, but why they sold it I mean, did they get enough profit out of this BTC or they just did not know how much BTC they needed for these ETFs? I think they overbought BTC and now they realized it and selling to maintain the sheet. Did I guess right?

And you are right, these big investors, who deal in billions have had a great effect on the BTC market, I think this is a positive impact, maybe in the short term we (small investors) might make lose but if we see the bigger picture, the big amount of money is coming into the BTC and that is good for BTC dominance as the price of BTC will increase more.

If they have sold this much BTC then at some point they will also buy it, as small investors, we only have to keep any eye on there moves, if there is way to do that.

[ZAINmalik75]

We are were so bullish upon BTC ETF approval. We were thinking that ETF approval will attract many investors from the whole world to invest in btc which will increased the demand of buyer and btc will pump above 50k but we are seeing that from the next day of ETF successful approval btc price is dumping continually. At the time of writing this post btc trading around 40400. There is Big support around 40k, If it breaks we might see big dump.

I was also hoping the same that BTC would break $50k even somewhere in my mind I had a feeling that approval of ETF would help BTC to break the ATH target as well, but I was aware that, breaking that target is not an easy task but I was not hoping this result, this all due to the manipulation of billionaire companies.

Today I read news that Grayscale sold 52k btc around 2 billion $ in single week which could be major cause of btc.

You are right this would be a big factor that would have caused BTC to go that down, I have read many articles about ETH, how it is going up and how BTC is going down, all highlights are now shifting to ETH due to its ETF approval results. I don't get one thing who gets the most benefit from this manipulation. 

Is this right time to sell ? If not what would be Strategy of Grayscale with current sale?

If you have some BTC in your holding then I don't think its a right time, because even in the most severe cases if BTC dump, it can go near $37k, and I can assume that your buying is way lower than that, and if that's the case then you might not get another opportunity to buy BTC below $35k.

[pieppiep]

Is this right time to sell ? If not what would be Strategy of Grayscale with current sale?

Thanks for this news I did not know Grayscal sold that much amount of BTC, but why they sold it I mean, did they get enough profit out of this BTC or they just did not know how much BTC they needed for these ETFs? I think they overbought BTC and now they realized it and selling to maintain the sheet. Did I guess right?

And you are right, these big investors, who deal in billions have had a great effect on the BTC market, I think this is a positive impact, maybe in the short term we (small investors) might make lose but if we see the bigger picture, the big amount of money is coming into the BTC and that is good for BTC dominance as the price of BTC will increase more.

If they have sold this much BTC then at some point they will also buy it, as small investors, we only have to keep any eye on there moves, if there is way to do that.

You've touched on an important aspect of the cryptocurrency market – the impact of institutional investors. Indeed, the involvement of large institutional investors can have both short-term and long-term effects on the market dynamics.

Remember that the cryptocurrency market is dynamic and influenced by various factors. While institutional involvement can bring positive aspects, it's essential to conduct thorough research, consider various perspectives, and make informed decisions based on your own financial goals and risk tolerance.

[Uruhara]

Grayscale is indeed selling their bitcoins to the market or more precisely on Coinbase if I read the information correctly. But if we look again, the other news is that Blackrock continues to increase their bitcoin holdings. Even this week they continued to increase their bitcoin holdings. So Grayscale's bitcoin sales will be absorbed by Blackrock. I hope that after this Bitcoin will rise again faster and reach the previous ATH. Because I believe that when Grayscale finishes selling, the market will recover quickly.

[Aanuoluwatofunmi]

Both buying and selling could not afford to stop by any means because we will keep having them no matter how, people are investing to hold and those that have already hold are selling to take their profits and reinvest again, same thing we have with seing some whales accumulating more and individuals selling as well, all these are under the demands and supply for bitcoin under it's network.

[tranthidung]

We are were so bullish upon BTC ETF approval. We were thinking that ETF approval will attract many investors from the whole world to invest in btc which will increased the demand of buyer and btc will pump above 50k

Is this right time to sell ? If not what would be Strategy of Grayscale with current sale?

GRAYSCALE HAS ALREADY SOLD OF 52,000 #BITCOIN  

Things must be changed gradually and supply vs demand principle works but it needs time.

You also must read news carefully. Grayscale did not sell bitcoin but their customers forced Grayscale to sold it. Initially, Grayscale bought bitcoin on behalf of customers so when customers need to cash out, they will request Grayscale to pay them, by selling bitcoin to cash. Most of bitcoins stored by Grayscale is on behalf of their customers and Grayscale is like a custodian for their customers.

It is a normal profit taking activity because many people got profit with Bitcoin since 2022 and 2023. Don't think negatively about it, taking profit will end soon and think about Bitcoin halving as well as a bull run after it.

[Faisal2202]

You've touched on an important aspect of the cryptocurrency market – the impact of institutional investors. Indeed, the involvement of large institutional investors can have both short-term and long-term effects on the market dynamics.

Remember that the cryptocurrency market is dynamic and influenced by various factors. While institutional involvement can bring positive aspects, it's essential to conduct thorough research, consider various perspectives, and make informed decisions based on your own financial goals and risk tolerance.

I did not touch this aspect as the OP has started this topic and talked about this aspect, I was simply sharing my idea about it, and I can't agree more with you on you Point of View (POV) because cryptocurrency is really a dynamic market and it changes on many factors, but if we see closely all the crypto market follows only one coin and that is BTC.

That's because BTC covers most of the market cap of whole crypto industry that's why it have more impact on the market when it goes up or down. And now the big issue with these multi-billionaire companies adopting it and inflowing, outflowing hell lot of money into BTC only which in result putting impact on the alts too, and sometime some ats are bleeding while some are not. This created a great problem for us as now we have to keep an eye on another one factor and that is institutional trading volume and money flow in and out of BTC ETF.

[KryptoBull]

Grayscale is indeed selling their bitcoins to the market or more precisely on Coinbase if I read the information correctly. But if we look again, the other news is that Blackrock continues to increase their bitcoin holdings. Even this week they continued to increase their bitcoin holdings. So Grayscale's bitcoin sales will be absorbed by Blackrock. I hope that after this Bitcoin will rise again faster and reach the previous ATH. Because I believe that when Grayscale finishes selling, the market will recover quickly.

As far as I know, GrayScale and BlackRock do not sell or buy BTC on Coinbase Spot, but rather Coinbase OTC, which means they do not directly affect the BTC price. Currently, ETF funds are absorbing the amount of BTC sold from GrayScale, without affecting investors' purchases on exchanges. I will wait for the moment when GrayScale stops selling and BlackRock has to buy BTC on Coinase Spot. Combined with Halving, it will be the explosion point of BTC price!

[pawel7777]

Link in the OP leads only to a tweet without any sources.

Is it possible that the news is referring to the conversion of bitcoins previously held in Grayscale Bitcoin Trust (GBTC) into their spot ETF?
It could also be due to holders of Greyscale ETF selling to buy another spot BTC with lower fees, as I think Greyscale currently has the highest fees (or one of the highest).

[salad daging]

Behind GrayScale's bitcoin sales there must be a scenario behind it. We never know what they did after the ETF was approved. Instead, GrayScale sold BTC on Coinbase OTC.

This will indeed be moderate news, considering that several X.com accounts continue to report the progress of Bitcoin delivery by GrayScale, a large number of which retail investors might think this will have an impact on the price but until now bitcoin is still sideways.

Actually, we don't care about this news because we will continue to hold bitcoin until ATH, we won't panic about this news because they will definitely buy again when the price is at the bottom, now they will continue to hold on or continue to accumulate bitcoin.