Many see the #Bitcoin ETF as being bullish for the price of #BTC because of the potential to increase capital inflow but an unknown is what type of holders will BTC ETF buyers be? It’s doubtful if they will have the same « HODLER » mentality than non-ETF buyers. When you buy the Bitcoin ETF, you only buy it for one and only reason which is to see a return on your investment, you don’t buy it to use it as a medium of exchange or self-custody your assets. Hence, if the price action doesn’t play out well there is not much reason to keep holding the ETF. Bitcoin ETF buyers probably have weaker hands. This may results in a shift of Bitcoin price action.