The smart money that bought the dip in Q3 is now underwater across the board—13F filings just revealed the score: Jane Street nearly 8x’d its position in Fidelity’s Bitcoin ETF, JPMorgan added 9.6% to its IBIT holdings, bringing them to $540 million, and Barclays boosted its stake by 48%.
At prices from the end of September, $BTC was at $83,000 then and is now at $69,300—which means this batch of holdings is down more than 16% on paper. What stings even more: in the same filing, JPMorgan slashed its Ethereum ETF position from 1.17 million shares to just 399. Buying Bitcoin and dumping Ethereum—they’ve made their position crystal clear.
But institutions being underwater doesn’t mean we’ve hit bottom: ETFs are still seeing net outflows this week, the Fear Index is at 20, and tonight’s 9:30 p.m. PPI report is the next potential blow. If the data comes in hot, even $69,000 might not hold.
A. Ride it out with the institutions and wait for PPI before buying the dip / B. If even the smart money is underwater, why should retail investors be the first to bail?
$BTC $ETH
#比特币 #以太坊 #WallStreet
At prices from the end of September, $BTC was at $83,000 then and is now at $69,300—which means this batch of holdings is down more than 16% on paper. What stings even more: in the same filing, JPMorgan slashed its Ethereum ETF position from 1.17 million shares to just 399. Buying Bitcoin and dumping Ethereum—they’ve made their position crystal clear.
But institutions being underwater doesn’t mean we’ve hit bottom: ETFs are still seeing net outflows this week, the Fear Index is at 20, and tonight’s 9:30 p.m. PPI report is the next potential blow. If the data comes in hot, even $69,000 might not hold.
A. Ride it out with the institutions and wait for PPI before buying the dip / B. If even the smart money is underwater, why should retail investors be the first to bail?
$BTC $ETH
#比特币 #以太坊 #WallStreet