2.7 billion traded now and the price is going down. LOL I DON'T KNOW WHAT THE FUCK IS GOING ON
Discussion
Weak hands.
Some people just wanna sell their bitcoin to BlackRock
Maybe it’s a bilateral contract. One or a few parties trading large quantities at a pre-agreed price. Like a put option with the long position selling into the market at a discounted price to clear
long call* not long put
Front ran by suits and degens looking to make quick profit. They sell into the inflows and now clearly front ran harder then the inflows so more selling then buying down we go! My theory who knows.
I assume it's because the suits have already purchased the Bitcoin to seed their funds. ETF volume doesn't do anything directly for the actual market price of the asset.
Someone told be the the ETFs won't buy BTC until the end of the day. So money into the fund does not immediately result in BTC price shock.
I just figured they were going to buy OTC or miner-direct, and the exchange liquidity meant the square root of zero. 🤷