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Have posted this yesterday !!
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Why is BTC going down? and will to go in the 30k-38k zone ?
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Owning a #bitcoin ETF is like saying you have a girlfriend, but she lives in BlackRock's apartment and BlackRock sends you a picture of her every quarter.
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Apparently 70% of #bitcoin proceeds from selling $GBTC is NOT expected to be going into other #Bitcoin funds. ""We expect AT LEAST a THIRD of that cash to shift to other ETFs". This explains the price dip and I must admit - if true, it is SIGNIFICANTLY higher than I thought and I have completely under appreciated the lack of re-allocation that would happen back into #Bitcoin funds. It also means that it will take a lot more time than I had thought to clean up the selling pressure from GBTC. $BTC
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This was my First signal on this profile and congrats to everyone who picked first target achieved. Enjoy your profits, I would recommend selling 50% of your position on first target #cyber $CYBER .
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