At the end of 23, everyone began to discuss the future direction of ETF spot BTC, and many big guys even boldly predicted that it would exceed the 100,000 mark!
However, when the spot BTC trend began to slide all the way down after passing through ETF, many people began to shift their investment focus towards altcoins. Therefore, a dilemma emerged in the past few days. It could not rise and fell weakly. It feels like many currency friends have given up looking forward to big names... But I want to say that it is too early to give up now.
Let me briefly talk about why BTC does not rise but falls. In fact, BTC does not rise. After the ETF started to pass, large amounts of money continued to flow into BTC.
So why did it fall? The reason lies in GBTC. During the calf wave at the end of 2023, BTC once rose to 48,000. This is because the price of GBTC was only about half of BTC at that time. Many master currency friends understand that the price of GBTC will synchronize with the price of BTC after passing through ETF, so everyone They started to go crazy for GBTC, so there was a calf phenomenon of 48,000. Then after the ETF was approved, they completed the task and made a lot of profits, and began to sell the GBTC they bought originally. Since the selling volume was large and fast, the funds after the ETF The inflow rate couldn't keep up, so it dropped all the way to 38,000. Now it seems that the leek farmers have almost harvested, and the selling pressure is obviously not that strong, so are you ready to enter the market? If you haven’t gotten on the bus yet, please follow closely!
