cryptoic

Right before the ETH ETF launch i shared my opinions. I wasn't expect this kinda bearish chart so fast.

Main reason behind this Grayscale outflows. They have started huge selling pressure and their holdings around 2.1m+ Ethereum.

Once the BTC ETF launched they had 600.000 Bitcoin and they sold already half of it. Nobody can't say where they stop but seems there are not big players or institutions like BlackRock that eagers to buy their supply.

Today in Bitcoin Conference; VanEck CEO said %30 of his personal portfolio holds Bitcoin. (This company has both ETH and BTC ETFs)

Michigan State in US bought 6.6m$ worth of Bitcoin for pension fund.

2 days before Russian lawmakers passed bill legalizing Bitcoin mining, crypto payments for international trade. (is expected to take effect on September 1st) But important part is that no members voted against or abstained from voting. Note that Putin had bias about crypto related energy consumption and wasn't support!

BTC: Main portfolio asset, inflation-protected security approach, regulations around the world not just El Salvador:)

I see ETH as decentralized community-riden tech company which is overvalued in short-mid term. We should see more real-life applications rather than memecoins,NFTs and differences from other chains.

There will be only one decentralized gold but there may be more than ETH(maybe the best one haven't made yet).

Thank you for reading.

Over $1.1 trillion was wiped out from the US stock market today.

The Nasdaq 100 had its worse close since 2002, down 3.65%.

Stockmarket Market Caps

1. $TSLA Tesla lost about 90 billion
2. $AAPL Apple lost about 100 billion
3. $GOOG Google lost about 115 billion
4. $META lost about 70 billion
5. $NVDA lost about 205 billion
6. $MSFT Microsoft lost about 118 billion
7. $AMZN Amazon lost about 58 billion

I think Bitcoin has shown relative resilience despite Mt. Gox repayments and the stock market downturn. But why is that?

Firstly, while the S&P 500 and Nasdaq reached record highs in recent weeks, the crypto market saw a significant drop, supposedly due to German sales and MT Gox news. Right after Trump faced an assassination attempt, Bitcoin surged while the stock market declined.

What does this inverse relationship indicate to you?

Of course, it's not possible for the money to directly flow from one side to the other, but there are still those who think Bitcoin is undervalued. For instance, just on Monday, there was a $550 millions inflow into BlackRock's ETF IBIT(price was around 67.000$).

This also doesn't show that the bow was drawn very tightly? Now we wait to see the consequences once the arrow leaves the bow.

My next play is $W
Entry 0.30-0.315
Target 0.33-0.35
Stop 0.29-0.294
Cross 25x

Please DYOR and careful about risk management

bingo

Nice area to long $1000SATS

Target price: 0.00028 - 0.00032
Stop loss: 0.00024-0.000244

DYOR and careful about risk management

BlackRock (IBIT) Daily BTC Flows: +523.3m (22nd of July)

Estimated market capitalization of gold is 16T $.

Bitcoin market cap is 1.33T $.

BlackRock CEO Fink, called BTC as digital gold. The total supply of Bitcoin does not increase, but the supply of gold does. I dont want to give other advantages of bitcoin, since you know already.

They wont stop until they become one of the biggest holder. As they do in Apple, Microsoft etc. .

Look at the historical chart of gold. Search which events triggered price. Imagine where we go in long term.

This bull run will be totally different than the others, even in bear market. So don't compare with this cycle with last cycles!

I am confident in BTC but not for alts even for ETH. I will share further opinions for alts and ETH in other posts.

If the $ETH spot ETF has no yield, who would buy the ETF when you can safely get up to 20% yield on the network? Almost PENDLE PT wrapped in Ethereum. In general, almost all LST $ETHFI and others will give up to 20%.

Think about it. Remember how FTX collapsed. They were giving %20 yield for dollar as stablecoin. This is not a sustainable rate in long term.

There is no such a yield for $BTC anywhere. Why Larry Fink constantly mention BTC but not ETH. Surely, BlackRock will eventually have an ETF, but they haven't taken a leading role for Ethereum. Why Blackrock was the last one to join ETH spot ETFs ? Because these guys control trillions of dollars and know how money and rates work.

I'm not a big expert in delta-neutral strategies, but I think with the launch of ETF there will come a lot of liquidity that will give these 20% stable returns to funds that will short ETH on CBOE and CEX to have the same ETH onchain in staking.

People was much focused on Germany sellings and MT Gox's repayments. GBTC spot ETF outflows have reached 300.000 $BTC since the beginning of the year. Why anybody didnt talk about this? Did you think 50.000 $BTC really cause a drop the price around 53.000 $ in a month ?

We were not in bull market nor bear. They have set a bear trap before the beginning of the bull market, so they could buy more dip prices by frightening you. But Trump assasination attempt triggered the bull market and big players got the signal. They were waiting for stable low prices but now they attack like a hungry lion to the market. Even Market Makers cant liquidate long positions!

There wont be pullbacks until new ATH. Trump will attend BTC 2024 Conference on 25-27 July. We got the momentum for 80k and then we may see %5-10 pullback and continue to new ATHs.

$BTC is going to new ath but not all alts! This bull run will be totally different. Remember $DOGE marketcap is higher than its published chain($LTC ). I will share the coins with huge potential on this run and also the strategy to how to invest.

Keep it mind that price action mostly driven by news. So tomorrow could be totally different than today.