~snip~
After the approval of ETF, we all thought that Bitcoin price will touch a new all time high. Clearly that isn't the case. Someone with far more power than we can imagine, is surely messing up with Bitcoin in the open market.
Most of us did not take into account that one of the companies that also received approval for the spot ETF has more than 600 000 BTC in its possession, of which it has already sold about 80 000 BTC worth about $3.3 billion. As far as I can see, this is currently the only reason why the price is going down.
As for this insane investment of $500 billion, it has already been explained that it was not about investing in Bitcoin, but about some kind of
"crypto project" that was talked about years ago. Besides, does anyone think that it is possible to just buy BTC for that much money when all mined BTC are currently worth just a little less than $800 billion?