Of course, it can outflow at any time—that’s not specific to Bitcoin ETFs or the type of instrument you’re holding. If you wanna liquidate an asset, it doesn’t matter whether you hold it via an ETF or self-custody. And how did you come to the conclusion that it’s overbought? Hope you’re not measuring this through RSI.
Discussion
I did not come to the conclusion. I am asking. Asking why this chart is bullish.
bullish means that the net assets there would increase even further? how do you come to that conclusion?
(don't get me wrong, I am bullish on Bitcoin)
It’s the most successful ETF launch in history. In about a year since its inception, it has nearly doubled the gold ETF in terms of net assets held. This signals massive mainstream interest. Are they long-term investors, short-term traders, or day traders looking for quick wins? Only time will tell. But one thing is certain: Bitcoin is the most liquid and borderless asset, traded 24/7. Imagine selling a 5th ave building worth $5 billion over the weekend in a matter of hours, if not minutes. This characteristic of Bitcoin itself is enough to attract big capital globally, which is incredibly bullish IMO, from the trading perspective. We already know its worth as a store of value, and inflation-hedge so no need to mention that part.
guess I just don’t see that being successful (“most successful launch”) in the past is a reason for it to be successful in the future.
that bitcoin is probably the best asset we have is clear. that’s why we’re bullish.
but that’s for me independent of a ETF that is bigger than a Gold ETF.
for me it being bigger than Gold is actually still a bit too early.
as it moves in quickly it can move out quickly again, too.
it needs a proven foundation for me.