$16B may inflow in crypto in Q3
The reason for this is #FTX cash distribution.
But they won't return money in #BTC , ETH, SOL, or any other crypto.
Instead, they will get the return on stables based on the price of November 2022.
Imagine you held 1 BTC there, the price was $16k.
You won't get $56k, but $16k.
There are also 2 important dates to keep an eye on:
◾ August 16, 2024 - Deadline for voting on FTX bankruptcy
◾ October 7, 2024 - FTX bankruptcy plan may be approved
How can it affect the market?
As I said, returns are expected to happen at the end of Q3.
Plus, at that point, the world will follow the US election.
These 2 events may create a bull market
Even by looking at previous ups after inflows:
BTC:
◾ January 8th, inflow of $210M. Price rose by +5% in a day
◾ February 26th - March 4th, inflow of $1.139B. Price rose by +32%
ETH:
◾November 9th, 2023, inflow of $100M. Price rose by +10%
◾ April 8th, inflow of $217M. Price rose by +8%.
SOL:
◾March 11th - March 21st, the inflow of $634M. Price rose by 25%
How high we can go this time?
