Hello!
As you all know, the Bitcoin ETFs launch has been a success. In fact, there isn't any other ETF launch that has been as successful as this one. Amazing news for the Bitcoin hodlers.
The demand for Bitcoin is huge, and they are not showing any sign of exhaustion. I assume that the demand will not drop in the coming weeks.
They almost hodl 2% of all the supply, and in just 2 months! And this amount is just the inflows. I'm not counting Grayscale as they are currently selling their stack.
This two charts show the impressive amount of growth this ETF are experiencing:
More big news
As I already mentioned, Grayscale that was hodling 600,000 Bitcoin at the time of the approval is selling their position. This selling pressure is also impacting the market right now. However there are big news, they now hodl just 400,000 Bitcoin, and at this rate the sell pressure will come to an end really soon!
Take a look at the blue position.
The Grayscale position has been reduced significantly while the new ETF issuers are sucking all the Bitcoin in the market. I don't expect the price rally to stop anytime soon.
Clear skies above 69,000$ per Bitcoin.
Stay safe out there!
Posted Using InLeo Alpha
Incredible analysis! Always love the energy when the bulls run XD
Thanks!
Interesting times ahead. Don't forget to buy some!
These are very good numbers. Now I'm wondering if ETH will replicate the success of the Bitcoin ETF.
It's definitely a possibility.
I've heard experts five a 33% probability to that happening.
let's juste asume eth etf will do the same to eth price
It would be wild!