Huyền thoại trong nhóm InstaSpot!
Huyền thoại! Bạn nghĩ rằng đó là lời nói khoa trương? Nhưng chúng ta nên gọi một người đàn ông như thế nào, người đã trở thành người châu Á đầu tiên giành chức vô địch cờ vua thế giới lứa tuổi thiếu niên năm 18 tuổi và người trở thành Đại kiện tướng Ấn Độ đầu tiên năm 19 tuổi? Đó là khởi đầu cho con đường khó khăn đến danh hiệu Vô địch Thế giới của Viswanathan Anand, người đàn ông đã trở thành một phần của lịch sử cờ vua mãi mãi. Giờ đây, một huyền thoại nữa trong nhóm InstaSpot!
Borussia là một trong những câu lạc bộ bóng đá danh giá nhất nước Đức, đã nhiều lần chứng minh cho người hâm mộ thấy: tinh thần thi đấu và sự lãnh đạo chắc chắn sẽ dẫn đến thành công. Giao dịch theo cách mà các chuyên gia thể thao chơi trò chơi: tự tin và chủ động. Giữ một "đường chuyền" từ Borussia FC và dẫn đầu với InstaSpot!
The current price of Bitcoin has risen above $40,195 as markets recover from Wednesday's established low. This month, the opening time of the U.S. stock market has become more significant for crypto investors. Spot ETFs on Bitcoin continue to attract heightened interest, and a balance is starting to form on the GBTC front.
After spot Bitcoin ETFs began trading, GBTC investors, expecting a reversal of the long-standing negative premium, made mass sales. Knowing this, Grayscale kept the ETF management fee at a comparatively high level of 1.5%, significantly higher than competitors who charged less than 0.3%.
However, now we see that although demand for ETFs other than GBTC is growing, their reserves continue to rise. As of the market close on Wednesday, the total reserves of Bitcoin ETFs, excluding GBTC, reached 113,231.
GBTC reserves started the day at 536,695, compared to 619,162 on January 10. Fortunately, we see that the panic is beginning to subside, as only BlackRock and Fidelity have created demand for about 80,000 BTC.
Forecasts for Spot Bitcoin ETFs in 2024
Experts predict that capital inflows into spot Bitcoin ETFs will continue until the end of the year, leading to an increase in reserves. The total size of ETPs and other funds is currently $30 billion. Analysts believe that if this figure increases by 10%, Bitcoin could reach a new peak between $50,000 and $60,000.
However, this figure should be significantly higher. At least, recent data indicate reserves of more than 100,000 BTC in just ten days, excluding GBTC, making this possible. Less than a full week of trading has passed since the ETF approval. By the end of this week, spot Bitcoin ETFs will complete their first full week of trading.
It is expected that interest will increase in the coming weeks and months as other asset managers add ETF support. Franklin, which manages assets of more than one trillion dollars and is among the issuers, stated that it is still early and that advisors will offer spot Bitcoin ETFs to more investors.
Strange Behavior of Long-Term Holders
The recent sell-off by long-term Bitcoin holders reminds us of the ghosts of past capitulations. Repeating old losses may indicate a growing number of capitulation evidences among long-term Bitcoin stakeholder holders.
Bitcoin's Long-Term Holders (LTH), those who have held them for more than 155 days, have traditionally been considered "smarter money" due to their experience in overcoming the volatility of the main cryptocurrency. The key to their strategy is buying Bitcoin during price drops and selling it during market euphoria.
However, recent trends hint at a shift. Data analysis shows that LTH initiated the sell-off, and this trend continues. Notably, on January 22, about $625 million in profit was transferred to exchanges, which can be paralleled with the activity of January 17.
Data trends began to cause surprise on January 23 when LTH transferred coins to exchanges, suffering substantial losses of approximately $430 million due to Bitcoin falling below $39,000.
This situation ominously reflects the capitulation before the Luna crash, which occurred in May 2022. Then, almost the same amount was sent to exchanges at a loss, followed by a more serious loss of more than $600 million just a week later, right before Bitcoin's value shockingly fell below $20,000.
*Phân tích thị trường được đăng tải ở đây có nghĩa là để gia tăng nhận thức của bạn, nhưng không đưa ra các chỉ dẫn để thực hiện một giao dịch.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.