BlackRock, as an ETF issuer, does not rely on predicting market ups and downs; instead, they depend on **"physical channel fees"** and **"assets under management (AUM)"**. In simple terms, they earn **"toll fees"**, and as long as Bitcoin exists, they are guaranteed winners. 1. Core profit source: Management Fee This is BlackRock's most stable and largest source of income. • Logic: BlackRock charges approximately 0.25% (with discounts at different times) as a management fee for IBIT. 2. Securities Lending Profit This is the "dark pool" profit that ordinary retail investors cannot see. • Logic: BlackRock holds a massive amount of physical BTC. Many arbitrage firms or short-sellers need to borrow BTC for their operations. • Physical operation: BlackRock can "lend" the BTC they hold to these institutions and charge high borrowing interest. • Profit: The interest income from this part is often more astonishing than the management fee and has almost no physical risk. 3. Bid-Ask Spread and Execution Alpha • Logic: When thousands of shareholders buy through the ETF, BlackRock does not buy in real time on the market. They conduct **"internal crossing"** instead. • Physical operation: A wants to buy, B wants to sell, BlackRock directly hedges internally without needing to trade on Coinbase. However, they still charge both sides a certain trading spread. • Profit: This kind of "internal digestion" reduces their physical costs, leaving only profits. 4. Why do they frantically "sing bullish" and "sweep goods"? BlackRock's core physical profit is: the larger the assets under management (AUM), the higher the profit. • When the price rises to $160,000, the management fee doubles to $200 million. • The more users buy, the stronger their lending capital becomes. • Conclusion: BlackRock is the biggest **"interest community"** in Bitcoin. They serve as a "gravity source" not only for shareholders but also to accelerate the operation of this "toll collection machine".
$BTC x entering the cryptocurrency circle, when you believe all the information from others for buying and selling, it means your money no longer belongs to you
Buy the dip every time it falls by ten thousand, aiming to return to 120,000
CryptoChan
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【Four-Year Cycle Series Update📊】
In 2015, the bear bottom reached 27.3% In 2018, the bear bottom reached 27.5% In 2022, the bear bottom reached 27.4% Currently, the indicator is at 27.1%
Will it be like the last bear market, falling for 11 weeks straight until the end of April? It looks very similar! But the monthly line has fallen for five consecutive months, and there has already been a significant drop earlier! Use your imagination! $ETH
From never buying a house or getting married to embracing AI, Brother Sun has highlighted key points for the post-90s after ten years. $TRX $WLD $TAO {future}(TAOUSDT) {future}(WLDUSDT) {future}(TRXUSDT)
$BTC Every time there is a large-scale inflow of spot ETFs, it pushes up the futures premium (annualized 10-35%+), while institutions short-sell CME BTC futures or perpetual contracts (equal amount hedge); as the premium narrows, they also close both legs (sell spot and close short positions).
The monthly line pullback boll bottom is around 50,000
明简24
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Looking at the weekly chart, the manipulators of BTC have not changed at all, and this round of movement is basically identical to the last peak. After the last peak, there was a 13-month adjustment, and this round can currently be considered at most 7 months. So, one cannot just look at the price; time must also be considered, as a major bottom will appear in the second half of the year. In a bear market, being too focused on the bottom price can easily lead to misconceptions; if you buy too early, the bottom may not hold and you might have to cut losses. Trading has never been this simple; always maintain a sense of reverence for the market. Even if you want to buy the bottom, you should do it in batches. Even if you want to buy, you should buy slowly. Wealth does not come through hasty means; be a friend of time!!! #何时抄底? $BTC {future}(BTCUSDT)
Right, I believe that the institution will definitely go bankrupt.
玲峰资本
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Is Bitcoin at the bottom? Not even close to the bottom of the major bear market. The bear market is unimaginable. First, Bitcoin is currently at 60,000 USD. Again, the probability of a major waterfall event is not that high. Bitcoin cannot drop directly to 40,000 in one go. Currently, 60,000 may just be a short-term bottom. But it is not the bottom of the major bear market cycle. If in the next few days it drops to 30,000-45,000 USD, then this position would be the lowest point of the major cycle. Or it could be the second lowest point of a major cycle. Bitcoin is still above 60,000. Currently, the fear index has broken 9. So short-term, 60,000 is the bottom. Or there could still be a testing process. Of course, nothing like a black swan has happened yet. Next, let's see what black swans might occur? Next, let's see which exchanges have collapsed and which project teams have disappeared. A short-term bottom signal has already appeared. When Bitcoin is ignored by everyone by the end of this year, that situation will also come. Prices plummet. Trading volume wakes up. Bitcoin today on Binance is over 100 billion USD. A massive drop has occurred. It is a real crash. The bottom of the major bear market is between 30,000-60,000 USD. Most likely around 40,000 USD. So there is still a deviation from where I would actually take action. I still need to wait patiently. However, at this moment, I am already very excited. Everything is under control. But this time Bitcoin's rise is not as strong as I imagined. It hasn't reached 150,000 USD. But it has gone up to 100,000 USD. It reached 126,200. So we expect the crash to be between 30,000-60,000 USD. It definitely won't break 30,000 USD. So the closer it gets to 30,000, the less you should be afraid. Currently, 60,000 might still drop significantly. It could also be a stage bottom. The fear index has recently reached 10 twice. Last time it went from 95,000 to 10 and then continued to crash. Today the fear index is 9. Moreover, the price has dropped by 52%. Patiently wait for Bitcoin to reach 30,000-60,000 USD. Timing is before the end of this year for positioning. After I take action, I will just hold for 3 years without moving. Continue to provide external support. Then accumulate coins without movement. Patiently wait for Bitcoin to reach 30,000-60,000 USD by the end of 2026. Combined with a fear index of around 10. Wait patiently.