This morning at 6.30 this morning, the BTC spot price on the BitMEX exchange suddenly plummeted to 8,900 US dollars, and then returned to normal. The official response was that it was caused by large sales. I wonder if anyone was lucky enough to buy 8,900 BTC. Poor liquidity on the exchange is prone to pin insertion, or is it? Binance is reliable
Yesterday, Grayscale once again reduced its holdings of 9,386 BTC, resulting in the largest single-day net outflow of ETFs, amounting to US$154 million. Currently, Grayscale still holds approximately 380,000 BTC, accounting for 45.3% of the total number of ETFs;
I think the ETF correction is normal. From the data, the average price of ETFs is 51,000 US dollars, and the average account floating profit is 35%. There will definitely be investors who sell at a profit, but don’t worry, they will come back after they taste the sweetness. .
There are several factors responsible for the current market correction. The most important one is that it has risen too much. The second is the impact of the BTC halving. It is expected that there will be 33 days left. After the BTC halving, miners’ income will decrease. In order to maintain the operation of the mine, they will sell their BTC.
Then there is the impact of macroeconomics. The weakening expectations of the Federal Reserve to cut interest rates and the Bank of Japan raising interest rates for the first time in 17 years will lead to a reduction in market liquidity and thus affect asset prices.
However, Gua Ge is still confident in the performance of BTC this year. The last prediction of exceeding 70,000 U in March came true. So do you think BTC will exceed 80,000 U in May?
