Ghania456
--
Bullish
Urgent 🚨 Grayscale sells 9,645 Bitcoin worth $911 million: Should we be worried?
The "Grayscale" fund, one of the largest Bitcoin funds in the world, sold 9,645 Bitcoin worth $911 million within 24 hours. This is the first major sale since the launch of Bitcoin Exchange-Traded Funds (ETFs) last January, and it comes after the price of Bitcoin rose by 60% since February, reaching $72,000 last week.
Is this sale concerning?
- The amount sold represents only 1.3% of Grayscale's total holdings, which still owns about 350,000 Bitcoin.
- Institutional demand for Bitcoin is strong, as new ETFs have purchased over 200,000 Bitcoin since the beginning of the year.
- Technically, Bitcoin is still above an important support level at $65,000, and if it falls below this level, the market may see a correction towards $60,000.
For long-term investors: this small sale is not an indicator of a crash but may be a natural correction after the significant rise.
- For short-term traders: if the price drops below $65,000, good buying opportunities may arise.
- The most likely scenario: Grayscale is adjusting its strategy without the intention of abandoning Bitcoin, which means the market is still in a strong position.
💬 Should we be worried.‼️ Share your thoughts 🌺🌸🌹
#Trump100Days #ArizonaBTCReserve
$BTC
The "Grayscale" fund, one of the largest Bitcoin funds in the world, sold 9,645 Bitcoin worth $911 million within 24 hours. This is the first major sale since the launch of Bitcoin Exchange-Traded Funds (ETFs) last January, and it comes after the price of Bitcoin rose by 60% since February, reaching $72,000 last week.
Is this sale concerning?
- The amount sold represents only 1.3% of Grayscale's total holdings, which still owns about 350,000 Bitcoin.
- Institutional demand for Bitcoin is strong, as new ETFs have purchased over 200,000 Bitcoin since the beginning of the year.
- Technically, Bitcoin is still above an important support level at $65,000, and if it falls below this level, the market may see a correction towards $60,000.
For long-term investors: this small sale is not an indicator of a crash but may be a natural correction after the significant rise.
- For short-term traders: if the price drops below $65,000, good buying opportunities may arise.
- The most likely scenario: Grayscale is adjusting its strategy without the intention of abandoning Bitcoin, which means the market is still in a strong position.
💬 Should we be worried.‼️ Share your thoughts 🌺🌸🌹
#Trump100Days #ArizonaBTCReserve
$BTC
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
155
0