16 billion USD could flow into cryptocurrencies in the third quarter 😱

The reason for this is that#FTXdistributes cash.

But they will not return funds in BTC, ETH, SOL or any other cryptocurrency.

Instead, they will receive a return from the stable based on November 2022 prices.

Imagine you hold 1#BTCthere, the price is $16k.

You won't get $56k, but $16k.

There are also 2 important dates to pay attention to:

◾ August 16, 2024 - Deadline to vote on FTX bankruptcy

◾ October 7, 2024 - FTX's bankruptcy plan may be approved

How could it affect the market?

As I said, profitability is expected to occur by the end of Q3.

Plus, at that time, the world will be watching the US election.

These 2 events could create a bull market

Even looking at previous increases following inflows:

$BTC:

◾ On January 8, cash inflow was 210 million USD. Price increased +5% in one day

◾ February 26 - March 4, cash inflow was 1.139 billion USD. Price increased +32%

$ETH :

◾November 9, 2023, cash inflow was 100 million USD. Price increased +10%

◾ April 8, cash inflow was 217 million USD. Price increased +8%.

SOL:

◾From March 11 to March 21, cash inflow was $634 million. Price increased by 25%

How high can we go this time?