Ok, maybe nothing like futures launch back in 2017, but also potentially proportionate based on market cap? Even so, I wouldn't rely too much solely on new tickers and the volume appearing quite yet...

I need to have a proper analysis of these Bitcoin tickers in general, from new ETFs to old products, because one thing I have noticed today is the bearish spike in selling volume for the likes of BTC1!, BITO and BITS, which suggests to me that those speculating on Bitcoin's price rise into the ETF were doing so not only on the spot market but also on older products, ETNs and futures I'm assuming.

If I had to guess, Wall St and playing each other with older products being used to dump on newer products. At least that's the initial impression I'm getting. Also what happened to the "normality" of simply expecting/waiting for a 50% drop once new products are listed? This is like the defacto move for Wall St; wait for the -50%, then buy in. It explains a lot of previous Bitcoin-based launches as well.

Ie maybe this is less about Bitcoin correcting the usual 30%-50% after a parabolic move, and more about new launches on stock exchanges dropping 50% before going anywhere relevant. Just a thought. Let's not forget the amount of money invested in Bitcoin futures right now, because no doubt a lot of futures speculation was based on a future ETF that has now been launched. Again, just food for thought here.