Analyst: How ETFs Create a Range, Extract Profit from the #Bitcoin Range, Accumulate Bitcoin, and Suppress the Price within the Range.

Bitcoin ETFs using market makers like Jane Street are involved in a popular trading strategy known as "basis trading" or "cash-and-carry trade." This strategy involves buying (accumulating) spot #Bitcoin and short-selling CME Group Bitcoin futures contracts to profit from the price discrepancy between the spot and futures markets.

Here, we see how Dealer shorts are used to manipulate the price within the $60,000-$70,000 range, accumulate spot Bitcoin, and profit from the created spread. Is this ethical? Who knows. Is it legal? Yes. The SEC permits this trading on all regulated ETFs with futures contracts.