Q3 Crypto Inflows Could Reach $16 Billion
The reason is FTX cash distribution.
But they will not return the funds in the form of BTC, ETH, SOL or any other crypto.
Instead, they will receive a steady return based on the price in November 2022.
Imagine you hold 1 BTC there and the price is $16,000.
You will not get $56,000, but $16,000.
There are 2 more important dates to watch:
August 16, 2024 - FTX bankruptcy vote deadline
October 7, 2024 - FTX bankruptcy plan may be approved
How will it affect the market?
As I said, the returns are expected to happen at the end of Q3.
In addition, by then, the world will be watching the US election.
These two events could create a bull run
Even by looking at the previous rises after inflows:
BTC:
January 8, $210 million inflows. The price rose by +5% in one day
From February 26 to March 4, $1.139 billion flowed in. The price rose by +32%
ETH:
On November 9, 2023, $100 million flowed in. The price rose by +10%
On April 8, $217 million flowed in. The price rose by +8%.
SOL:
From March 11 to March 21, $634 million flowed in. The price rose by 25%
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