BTC ETF spot funds are surging beneath the surface! BlackRock has crazily bought for 12 days, Grayscale remains steady as an old dog, and Friday's non-farm payrolls are the main event!
Attention, folks! On Wednesday, the BTC ETF fund saw a small twist — American investors experienced their first net outflow in nine trading days, but don’t panic!
A mere withdrawal of 200 BTC hardly makes a splash, especially since that day’s GDP data scared quite a few people, leading them to directly associate economic contraction with a recession scenario.
So what happened? Institutions worked overtime to interpret the data and found that U.S. domestic demand and imports were playing a "seesaw," and the economic foundation is still solid, causing the market to rebound!
Here comes the key point! BlackRock has been crazily sweeping up assets for 12 consecutive days without pause. Although Fidelity and ARK saw a small withdrawal of less than 3000 BTC, Grayscale users are just lying flat and playing dead, with no one fleeing!
What does this indicate? Retail investors might be scared stiff by the data, but the main funds are steady as a rock. Those who should be stocking up are stocking up, and those who should be lying flat are lying flat; the sentiment hasn't collapsed at all!
Now the entire market is focused on Friday's non-farm data! Although the recession warning has temporarily lifted, GDP is just an old calendar from March, and how the economy performs in April still depends on the unemployment rate as a "truth mirror."
If the employment data remains strong, BTC is likely to continue climbing; if the data disappoints, it might have to test the bottom once more.
In short, BlackRock has cast a vote of trust with real money, and Grayscale users express their faith by playing dead. The climax of this drama may be on Friday!
Are you stuck? When will you bottom out? As always, if you're confused and helpless about what to do, tap the avatar to comment. I need fans, and you need references.
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