ETFs Update: Net inflow 932 #BTC (69% lower than average since launch).
- Reduced outflows from Grayscale,
- Reduced inflows into other ETFs.
therationalroot
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#Bitcoin on-chain & cycle analysis. Signal only.
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Short-Term Holder cost basis at $58.8k. #Bitcoin
ETFs Update: Net outflow of 910 BTC due to GBTC. Reduced inflows to other ETFs continue.
Many ETF flows stalled due to derisking/fear of war.
Meanwhile, BlackRock continues with its streak of 65 consecutive days of inflows.
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Halving Impact
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ETFs update:
-Net 1.7k #BTC inflow compensates for earlier outflows, resulting in ~neutral flows this week.
-Lowest outflow from GBTC since ETF approval.
Q2 of the 4-year cycle: the #Bitcoin Halving.
ETFs update: Net outflow of ~3k #BTC due to GBTC.
-Price held up well, given the outflows.
-No direct rotation from GBTC to IBIT.
Bitcoin at $72.5k,
Short-Term Holder cost basis at $58k (All-Time High).
Halving progress 99%. #Bitcoin
The next Halving will gradually reduce the available supply for trade over the next 4 years, with an estimated impact of ~6%. Its impact is diminishing but remains significant. #Bitcoin
BlackRock likely to flip Grayscale by the Halving. #Bitcoin
On-chain value map: heavy overvalued now at $123k and rising.
Significant ETF inflows are back, noticeable pressure on price, and people are still bearish. Also, BlackRock reached 250k BTC in AUM.
Price impact of ETFs Flows:
ETF flows are a major driver, below the change in cumulative BTC holdings vs. the change in price.
ETF Inflows are back! Looking forward to what today brings! #Bitcoin
Outflows continue at Grayscale but are offset by Fidelity and other ETFs. With markets closed over the weekend and a neutral start to the week, Bitcoin has maintained its upward trajectory. #Bitcoin 