Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

Quote from: Freeveto on Today at 03:03:17 PM

Over 200K BTC now stored in Bitcoin ETFs and other institutional products

https://cointelegraph.com/news/over-200k-btc-now-stored-in-bitcoin-etfs-and-other-institutional-products/amp

And think this suggest in my opinion why Bitcoin is not gonna go to the lows It went to in the previous bear market ,
because currently there's enough institutional money in BTC that is holding the market up right now.

I knew from the moment that big league insiders like Michael Saylor and Elon Musk started buying billions worth of btc, and all the Bitcoin ETFs got approved by the SEC, that institutional buyers were already buying billions worth. All of this buying activity started when bitcoin hit ~$30K/btc. The insiders will defend that price range, they don't want to lose major amounts of money on paper.