Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Today's #Bitcoin sent to Coinbase by $GBTC/Grayscale comes out to be 18.3K $BTC or ~$740M worth.
https://twitter.com/DaanCrypto/status/1749438652390732048
Now they are down from 619 000BTC to 534 000BTC, which is 13.7%. Today's outflow is not counted in
https://bitcointreasuries.net/entities/50
This can be a poll question: when this outflow will stop: at 0BTC, 1-100BTC, etc. Or when it will stop - this week, next week or in, say, 10 weeks.
https://twitter.com/DaanCrypto/status/1749438652390732048
Now they are down from 619 000BTC to 534 000BTC, which is 13.7%. Today's outflow is not counted in
https://bitcointreasuries.net/entities/50
This can be a poll question: when this outflow will stop: at 0BTC, 1-100BTC, etc. Or when it will stop - this week, next week or in, say, 10 weeks.
Yea....so what if others pick it up and more.
This trade is too simplistic to be true (on balance).
I don't give a hoot how much they sell as long as they match the underlying.
As of 19th GBTC had BTC566,973 in the fund, the claim that they lost BTC18,3k in the day, and the days isn't even over, is hard for me to believe but would be nice to see, pull that band-aid off already! Where the 534 000BTC number came from i couldn't follow at all
percentage of dormant bitcoin in GBTC would be interesting to speculate on, but they've been seeing average outflows of about BTC12k per trading day, so at this rate about 46 more trading days until they hit 0.And that's the root of the problem, market doesn't believe that others are picking it up and more
Bloomber
Crypto Funds Saw Outflows Last Week After Debut of Bitcoin ETFs
Global demand for cryptocurrency investment products eased last week, with funds seeing $21 million in outflows, according to a report from CoinShares.
Crypto Funds Saw Outflows Last Week After Debut of Bitcoin ETFs
Global demand for cryptocurrency investment products eased last week, with funds seeing $21 million in outflows, according to a report from CoinShares.
This doesn't line up with my numbers, but after reading into it i realized that they're talking about all crypto (including shitcoins) but according to their source bitcoin only outflow is even worse at $-24,7MM they only have $656MM inflow under "Other" category which i couldn't really follow