Now the market is fearful of spot ETFs. Everyone no longer expects the market to pull up during ETF trading hours. On the contrary, they are afraid of Grayscale’s endless selling. According to statistics, Grayscale GBTC only sold on the first ETF trading day. In addition to the relatively small amount of US$100 million, in other days, an average of US$500 million of Bitcoin was sold to the market every day. Even though several other ETF issuers were constantly receiving goods, the overall situation was still in a state of net outflow. This is also the reason why currency prices always fall during ETF trading hours.

Considering that Grayscale still has 20 billion U.S. dollars of Bitcoins that may be thrown into the market, the market began to fall in advance during the day today. According to this situation, the short-term market may have to test the defensive ability of 40,000 points.

Of course, I personally believe that this capital outflow will soon reach a balance point. This can be seen from the ability of other ETF institutions to take over. In the past few days, BlackRock has taken over 1.4 billion US dollars of BTC, and Fidelity has also taken over 1.2 billion. , it can be seen that institutions are also very anxious, fearing that the price will suddenly rise and not receive enough goods. This is also the basis for my judgment that Grayscale's smash and market prices will reach a balance point. In short, everyone should try their best to protect their hands. Don’t let the institutions wash away the spot stocks.

During this period, in addition to Huidu's continuous selling of coins, FTX/Alameda has also been idle. In the past few days, it has also sold about 50 million coins to the market every day. Although the selling pressure is not as good as that of Huidu, it is not small. And this was all set before. It is said that shipments will be accelerated after the ETF is approved. FTX should still have about 600 million shipments to be shipped. Compared with Grayscale’s tens of billions, the impact on the market is actually not that big. , it will probably only affect a few weeks. #BTC #ALT #sol #Manta #热门话题