Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Just like that we’ve got $100K in the rear view. Anyone’s guess how high we will be by the time Wall Street opens. It makes sense now why Blackrock bought so much Bitcoin today. They have a settlement nightmare on their hands. That should be extremely bullish for the next 2 days. We’ve got ourselves our first ETF settlement squeeze I believe.
What do you mean? I envision ETF holders selling to book some profit. That shouldn't be a settlement nightmare if Blackrock didn't play dirty and actually has the underlying on their hands (which I believe they do). Or perhaps you mean they must settle in fiat for the corn they bought today with tomorrow's price? Any big daily up is a problem in that case, and I'm pretty sure they have deals for such circumstances.
It's likely I misunderstood something - so please explain if you have the time while uncorking a few cases of champagne.