Lark Davis has observed a compelling trend among BlackRock Bitcoin ETF investors.
Many BlackRock ETF investors bought at $73,000, with the product seeing a diminishing inflow at $64,000.
Users think the majority of ETF buyers are novices triggered by FOMO and FUD.
A foremost Bitcoin investor, Lark Davis, has observed a compelling trend among BlackRock Bitcoin ETF investors. In a recent post on X, the renowned investor noted that BlackRock Bitcoin ETF buyers purchased a billion units at $73,000 in one day. However, with Bitcoin at $64,000, the novel product saw zero inflow in a whole day.
Blackrock Bitcoin ETF buyers at $73,000 bought a billion in one single day. Today, saw zero inflows into the Blackrock Bitcoin ETF. BTC price now $64,000. There's a lesson there.
— Lark Davis (@TheCryptoLark) April 25, 2024
Davis’ observation triggered varying reactions among several crypto users, most of whom added their opinions as responses to his post. While the investor noted a lesson in the observed development, one respondent thinks it is all about investor sentiment and the fear of uncertainties.
According to a respondent, most people prefer to buy digital assets when the market is in the green. His suggestion implied that the crypto market is ruled by the “Fear Of Missing Out (FOMO)” and “Fear of Uncertainty and Doubt (FUD)”. Hence, many investors buy at higher prices rather than when the assets are cheaper.
Meanwhile, another respondent to Davis’ post believes many BlackRock Bitcoin ETF buyers are inexperienced. He considers then non-veterans who need to learn from those who have been in the system. For him, the right way to invest in crypto is to “buy the dip.”
A third respondent added his opinion, noting that the lesson there is that market sentiment can shift quickly, and timing is everything when investing in cryptocurrency. According to him, crypto investors need to stay sharp at all times, no matter the point at which they enter the market.
Bitcoin surged significantly after the U.S. Securities and Exchange Commission (SEC) approved several Bitcoin ETFs. The flagship crypto rallied above $73,000, with investors flooding the market. BTC pulled back after reaching an all-time high of $73,794, with users expecting a rebound. The pioneer crypto traded for $64,012 at the time of writing, according to data from TradingView.
The post Renowned Investor Spots Compelling Trend Among Bitcoin ETF Buyers appeared first on Coin Edition.
