Here's your daily update on $BTC :
1. Coinbase supply of $BTC has dropped to 2015 levels in light of the BTC spot ETFs and the massive buys from blackrock.
-> This will cause supply shock in the future and I am of the opinion that Coinbase may have to stop selling BTC to the Spot ETFs at some point or no retail investors will not be able to take leverage positions due to Coinbases premiums.
2. There was a significant drop in the price of BTC yesterday after being rejected at the 53000 mark. Most of the sell orders ranged from 5 BTC to 0.01 BTC meaning that retail investors either wanted to sell at 53K or panicked out.
->However, today we saw a good recovery from the drop to 51K, most likely due to Blackrock buying the extra supply.
As for me I fear that at this rate there may be no Liquidity left if Blackrock continues to eat up Bitcoin so I'm gonna be very careful when I decide to trade BTC.