On October 30, BlackRock bought another 12,000 bitcoins, worth nearly 900 million. This is arbitrage capital, buying in the spot market and shorting in the futures market where there is a premium. Once arbitrage capital of this scale and level enters the market, it indicates that the market is at the tail end of its phase. Therefore, what everyone actually sees is that when ETF funds flow in significantly, it is at the peak, and when ETF funds flow out significantly, it is at the bottom.
When you understand the truth behind the market and its operating rules, and when you realize that Wall Street capital is using the BTC arbitrage model to earn greater profits, you will understand that this wave of BTC rising to around 73,500 will not continue to break upwards to start a one-sided trend, but will choose to enter another wide-ranging fluctuation. A one-sided upward trend for BTC is likely to be delayed until later days.
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