The correlation between Germany-based investment fund ETC Group Physical Bitcoin (BTCE) and the Bitcoin price has shown a remarkable change recently.

According to a report shared by blockchain analysis platform CryptoQuant, BTCE began reducing its position on Bitcoin since the beginning of this year.

Past Correlation
According to historical data, there has been a correlation between BTCE and Bitcoin prices for many years. The fund, which started investing in Bitcoin in 2020, collected a total of 23,480 BTC. During the periods when BTCE increased its Bitcoin investments, the BTC price reached its peak in April 2021. However, when BTCE started to reduce its reserves, the BTC price also decreased.

This Time It's Different
According to CryptoQuant data, BTCE reduced its reserves from 27,980 BTC to 17,000 BTC as of January 2024. Despite this, the Bitcoin price is not reacting as it did in the past, despite BTCE reducing its Bitcoin position every day since the beginning of the year.

“Looking at the 30-day variance analysis, we observed that positive variations are associated with an increase in the BTC price and negative variations are associated with a decrease in the price,” analyst Joao Wedson said. However, he added, “The recent volatility has been out of the question; Bitcoin price has risen as the fund continues to reduce its position.”

“The fact that there has been no significant change in the Bitcoin price despite the constant depletion of BTCE reserves suggests that there may be a change in market dynamics,” Wedson commented.

FOR THE GIFT OF 10 DOLLARS PLEASE READ CAREFULLY.

My friends, you know that we, the publishers, are doing everything we can for you here. We are conveying to you the services and conveniences that our authorities have provided us. I have never withdrawn my support for both the cryptocurrency market and you, and on the contrary, I am trying to provide more support.

THIS 10 DOLLAR GIFT CAMPAIGN IS A CAMPAIGN MADE ESPECIALLY FOR ME BY BINACE. YOU CAN GET CONFIRMATION OF WHAT I HAVE SAID ABOUT THIS ISSUE BY CALLING LIVE HELP. IT IS A 10 DOLLAR CAMPAIGN MADE FOR YOU THROUGH ME.

Now I will explain how you will receive your gift. First of all, Binance users who have registered with someone's reference and actively use futures transactions will unfortunately not be able to benefit from this promotion.

So who can benefit?

Our friends who have not yet activated the futures section, when you activate your FUTURES transaction section, you will earn $10 when you open it by entering my 88623008 reference code.

I EXPLAIN IN DETAILED.

My brothers and sisters who have become Binance members without a reference, please listen carefully;

When you do what I say in order, you will receive 10 USDT.

Go to the Futures Section from your application,

On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,

My brothers and sisters who want to complete this transaction and receive the 10 USDT reward until MAY 1 can do so. Afterwards, after activating your account, it is enough to open your first futures transaction.

The first 1,000 brothers who open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.

So let me give you a tactic like this; even if you open and close 20x with a $5 transaction, you will be entitled to the reward.

Even if you do this after May 1st, your reward will not come. So, do it until May 1st. In fact, I would say do it right now in 5 seconds.

It's very simple. Go to futures, enter my 88623008 referral code and activate the account. Then just open a transaction of 200 usdt in total and get the 10 usdt reward.

WHEN WILL THE REWARD COME?

Your $10 reward will come to the REWARDS section of your Binance application within 30 days from May 1. By activating it from there, you can use your $10 reward, or more than 300 lira, in futures transactions.

You can share this post with your friends in need so that they can also benefit from it.

IN THE MEANWHILE, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. EVEN IF YOU HAVEN'T FOLLOWED US YET, DON'T FORGET TO FOLLOW US. WITH MY REGARDS.