Decline in #Bitcoin ETF Holdings: What Are the Implications for the price Future?

The Bitcoin ETF holdings of several financial institutions have seen a significant drop.

The recent price correction of Bitcoin [BTC] has turned market sentiment negative. The 71 000 - 72 000$ zone may act as a local top.
However, it wasn't just the crypto traders who were impacted; Wall Street's interest in the leading cryptocurrency has also waned.

Across nine Bitcoin exchange-traded funds (ETFs), holdings collectively decreased by 2,199 Bitcoin, amounting to roughly $153.4 million.

ARK21Shares experienced a decrease of 840 BTC, approximately $58.6 million.
As of June 12th, they held 48,199 BTC, valued at around $3.36 billion. Grayscale also saw a reduction in its holdings by 580 BTC, about $40.5 million. On June 12th, Grayscale held 283,966 BTC, valued at $19.81 billion.

If major players are losing confidence and selling off their holdings, it might indicate a lack of faith in BTC’s long-term potential, which could create a ripple effect of negative sentiment throughout the market🚨
This could trigger a broader sell-off as less risk-tolerant investors panic and follow suit🥶

Does this coincide with my feeling of a correction ahead for the coming days?

#DYOR #Halaltraders #btcupdates2024 $BTC #Latestcryptonews

🗓️2024 Crypto June Calendar

17 June : Binance - OMG·WAVES·WNXM·XEM Delisting
17 June : $RPL - Houston Upgrade
17 June : $ENA - Tokenomics update
18 June : $BEAM - $SOPH Farming
18 June : $ZEN - ZenIP 42406 Proposal
19 June : $SSV - MM Proposal ends
19 June : $GMT - StepnGO Announcement
20 June : Coinbase Future - BOME·NOT Listing
20 June : $BNB - Tycho Hard fork
21 June : Quadruple Witching Day
24 June : $LTC - Litecoin Summit 2024
24 June : $AMB - Partnership announcement
25 June : $BTT - BTFS Halving
25 June : $SD - Mega burn
26 June : $BORA - Zaif Listing
26 June : $MTL - L2 Migration (Airdrop)
27 June : U.S. - GDP (QoQ) (Q1)
27 June : 1st Trump/Biden debate
28 June : U.S. - Core PCE Price Index
28 June : $AGI - Quarterly Staking Update
28 June : $VET - VeBetterDAO Mainnet
30 June : MiCA Stablecoin Regulation

🔥Major Announcement

$ETH Spot ETF S-1 Approval
$ADA - Cardano node 9.0
$FRONT - $SLF Rebranding
$MASK - Staking feature
$ACE - Fusionist game
$DESO - PoS Mainnet
$GHST - Gotchichain Mainnet
$CRO - 50M Token burn
$GNO - $30M Buyback starts

#TopCoinsJune2024 #Halaltraders

### Market is Ejecting Investors

Right now, 90% of people who invested in altcoins are facing big losses. Many of these investors have lost faith in future growth and expect more drops, especially in altcoins.
However, most analysts and traders predict a quick turnaround and a strong rally. Often, when most people expect one thing, the opposite happens.

I believe we will see further drops before a strong bounce back and the start of a big altcoin season. It's important to be ready because the turnaround can happen quickly.
Many wonder how much lower the market can go. The truth is, there's no definite bottom. Each new low can lead to another drop, potentially without end. The key is the market's cyclical nature. So, never invest all your money at once; you might get many chances to buy at lower prices before the expected growth happens.

#BTC #altcoins #bitcoin
#Halaltraders