This can only mean someone is dumping shitload of Bitcoin to keep the value down... When that someone runs out of Bitcoins, we will see the off the charts climb that I promised...
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This can only mean someone is dumping shitload of Bitcoin to keep the value down... When that someone runs out of Bitcoins, we will see the off the charts climb that I promised...
Yea, if you look at the miner inventory levels it shows they have been selling more than they mine every week for several months now. So, it is most likely miners that are dumping all their inventory as well as everything they are mining. Probably in an effort to stay in business as the break-even cost of mining is said to be around $14k currently (average).
Not really. GBTC is backed by only 10% in BTC.
Even if only 10% of the trading volume of GBTC is real, it still creates buy pressure for other big companies. I have no statistics how much of the trading volume is because of buying by companies and how much is by individual persons, but 15% (10% of 150%) by single entity still sounds quite large number.