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#BTC The total net inflow into the US Bitcoin Spot ETF on 31th May was $48.74 million.
What do I think about this?
2 top bitcoin ETF funds. Grayscale ETF GBTC had an outflow of $124 million, while BlackRock ETF IBIT had an inflow of $169 million.
ETF sales by Grayscale fund investors have increased again. I think this is positive news. Since the launch of the bitcoin ETF, Grayscale has already sold $18 billion worth of assets. They have another 19 and a bit billion left on their balance sheet. The sooner the fund sells most of these assets, the better. Even if the price of BTC goes down.
After that, there will be no pressure on the bitcoin ETF market. Because right now Grayscale can have net outflows of tens or even hundreds of millions of dollars any day of the week.
#BTC According to SoSoValue, the total net inflow into the US Bitcoin Spot ETF on 30th May was $48.71 million.
For the third day in a row, there was minimal new money coming into the Bitcoin ETF. The good news is that this indicator has now been positive for 13 days.
Today we are witnessing a rare situation. Bitcoin has been falling for the last 24 hours (screenshot from our screener). At the same time, the top 10 altcoins are performing better than #BTC.
Normally it is the other way around. When BTC goes down, altcoins go down even more.
Why does this happen?
There is a reason why BTC underperforms the market. Dispenser has started actively distributing funds to those affected by the collapse of the MtGox exchange. The exchange was hacked 10 years ago. And only now are some of the funds being returned to the victims.
A total of 142,000 BTC is expected to be distributed. At the time of the hack, these BTCs were worth much less than they are now. Therefore, many people will want to sell them immediately. It's this breaking news that is putting so much pressure on bitcoin.
Let's say 100,000 BTC are sold in the next few months. Is that a lot or a little? In the last good week, the inflow of new money into the bitcoin ETF was a little over $1 billion. That's 15,000 BTC. So a potential sell-off of 100,000 BTC could have an impact on the market.
How to see all MEME charts of Binance tokens On 1 tab? Sort them by 20 parameters. See time frames from 1 minute to 1 month. And reduce your research time by 10x?
In our screener (link in the proffile), select Exchange-Binance-spot-MEME. This will leave 11 MEME tokens for USDT. By default they are sorted by market cap.
You can sort them by 20 parameters. For example, changes in the last 5 minutes, 1 hour, 24 hours, since the opening of the day, week, month, since the listing date, by trading volume, etc. And also see all these changes in a table similar to Coinmarketcap.
We have recorded a video of how it works. Follow the link below and watch it.
Nothing important happened in the crypto market over the weekend.
I expect the inflow of new money into Bitcoin ETFs to continue today. This will support both the first cryptocurrency and ETH. In altcoins, the sentiment is neutral.
Binance Exchange: Spot pairs for USDT.
Since the beginning of today (not in the last 24 hours), 182 pairs are up and 202 are down.
After the approval of the #ETH ETF, there has been a lot of talk about ETH reaching $5,000-$8,000. I think those targets are very distant.
Yes, of course, in the coming weeks or months, ETH might hit stop-loss levels above $4,100. But that's still a long way from even the all-time high of $4,870, which was reached in November 2021.