#threadstorm 🧵
In January, February, and March, ETF issuers such as Blackrock collected cheap $BTC (from 15k levels to 29k)
Now, over the last 4 months, the market is almost left behind.
#threadstorm 🧵
In January, February, and March, ETF issuers such as Blackrock collected cheap $BTC (from 15k levels to 29k)
Now, over the last 4 months, the market is almost left behind.
Are they likely going to sell off around here or wait till 30k plus?
I do not think they bought to "trade" BTC, rather, they collect to issue ETFs.
The sellers are once again retailers
Please look at the All Time High Volume in $BTC and the volume in the beginning of 2023.
Crazy amount of BTC has been collected!
Now, ithe market settles down again. My expectation is testing lower prices around 21k and 23k
If BTC slightly goes lower and triggers another purchase of these giants, I believe it will be the LAST time we see lower-lows in BTC (so does in crypto).
However, we may need another leg to collect liquidity around these levels