3x Bitcoin ETF approved, but miners turn around and sell 702 BTC
The SEC just approved a 3x $BTC ETF, and optimists are still celebrating the inflows. But real-world selling pressure has already poured cold water on the party. 📉 Last month, mining company CleanSpark mined 529 $BTC , then turned around and sold 702, shrinking its holdings outright.
We believe that the arrival of a new product doesn’t mean risk has disappeared. ⚖️ Some think 3x leverage can drive prices up, but on-chain data shows that short-term holders have sent another 11,000 $BTC to exchanges over the past 7 days to take profits.
Although the amount transferred is down 66% from the previous peak of 32,000, this “sell into strength” pressure hasn’t gone away. High leverage is still just a sharper harvesting blade. ⚠️ Next, keep a close eye on exchange net inflows and miners’ reserves.
Don’t just stare at the red and green bars showing 3x returns on your screen. Take a closer look at the crowded throngs queuing up at the exit to cash out.
#SEC批准3倍比特币ETF上市 $BTC
The SEC just approved a 3x $BTC ETF, and optimists are still celebrating the inflows. But real-world selling pressure has already poured cold water on the party. 📉 Last month, mining company CleanSpark mined 529 $BTC , then turned around and sold 702, shrinking its holdings outright.
We believe that the arrival of a new product doesn’t mean risk has disappeared. ⚖️ Some think 3x leverage can drive prices up, but on-chain data shows that short-term holders have sent another 11,000 $BTC to exchanges over the past 7 days to take profits.
Although the amount transferred is down 66% from the previous peak of 32,000, this “sell into strength” pressure hasn’t gone away. High leverage is still just a sharper harvesting blade. ⚠️ Next, keep a close eye on exchange net inflows and miners’ reserves.
Don’t just stare at the red and green bars showing 3x returns on your screen. Take a closer look at the crowded throngs queuing up at the exit to cash out.
#SEC批准3倍比特币ETF上市 $BTC