đ» BTC dropped more than 17% after SEC approved ETF Today, BTC drops to $40,300, resulting in $271 million crypto liquidation in 24 hours. đ€ If BTC continues to fall, how low will it go before the halving event? âł BTC Halving Date: April 22 (90 Days Remaining). #Write2Earn #sanor016CommUNITY #sanor016
11th Jan 2024 was a historical date where the first ETFs were traded in the New York Stock Exchange. Two weeks have passed and the ETFs have amassed more than 100k BTC. That's such a bullish sign! Or is it?
What happened few days after the ETF trading were weakness and selling. Bitcoin fell by more than 10% since reaching a short term all-time high of $48.5k and stabilized a few days above the $42k mark before facing more headwinds down around $40k.
During this period, many of the BTC Spot ETF issuers were buying up their own ETFs. While this is seen like a strong move but it is kind of supporting their own product by purchasing internally, showing good numbers.
That was followed by investors who have sold more than $2 billion worth of the Grayscale Bitcoin Trust (GBTC) since it was converted into an exchange-traded fund earlier this month. A large chunk of that exodus was FTX's bankruptcy estate dumping 22 million shares.
Now that prices have maintained around the $40k range and our technicaly analysis trainer, Loi Jun Kai mentioned in one of our community meet ups in December 2023 that BTC prices would revisit $38k mark.
Personally I felt that it was very bubbly with the ETF hype and I too believed a minor dip in prices would come soon. It was expected and we shared with our community often as well.
If you have bought at the $48.5k top and this drop to $40k spooked you, you are definitely not ready to be investing in the crypto markets. You do not have the resilience and strategy to understand the crypto markets.
If you don't want to just survive but flourish in the crypto markets, you will need proper training and guidance so as to ride the crypto market bull cycle upwards. Now the choice is up to you, you decide how you will come out when the bull cycle ends in the near future. #sanor016CommUNITY #Write2Earn #sanor016
If you know who is Michael Saylor, you would remember that everyone cheers when he announced that his company Microstrategy has bought millions of dollars into Bitcoin. And the price always rallied in response to the news.
Now, Every Single Trading Day, the $ inflow into the 9 Bitcoin ETFs is equal 1 Michael Saylor's buy from the past. #Write2Earn #sanor016CommUNITY
đ» BTC dropped more than 17% after SEC approved ETF Today, BTC drops to $40,300, resulting in $271 million crypto liquidation in 24 hours. đ€ If BTC continues to fall, how low will it go before the halving event? âł BTC Halving Date: April 22 (90 Days Remaining). #sanor016CommUNITY #sanor016
Binance announced today that it will list Pyth Network (PYTH), a decentralized first-party financial oracle, on its platform. The listing will take place at 12:00 UTC on February 2nd, 2024, and will offer four spot trading pairs: PYTH/BTC, PYTH/USDT, PYTH/FDUSD and PYTH/TRY. #sanor016CommUNITY #sano016 #Write2Earn
$BTC #BTCBTC still below its major testing zone, volume still acting as a resistance. Overall traded volume increasing which is a good sign for market.Do not short as risk is very high. Only hold on to your already opened long positions with proper SL trailing.#sanor016CommUNITY
Importance of the news: Important Britain's Financial Conduct Authority has ordered all cryptocurrency ATM operators in the country to immediately take down their machines to avoid legal action. . The order has been extended to all Bitcoin and other digital currency ATMs in the UK, after it was declared illegal under the UK Money Laundering Regulations (MLRs) and lacked formal approval by the FCA. #sanor016CommUNITY #sanor016
đ” Elon Musk, the CEO of Tesla, once again started teasing about crypto on Twitter and with more than 40 million followers, today he tweeted the sentence "Bitcoin is a safe word for me".
đ” Musk had previously published sarcastic tweets about Bitcoin and cryptocurrencies, but the noteworthy point is that he had previously tweeted the phrase "Cryptocurrency is not a safe word for me" in January, and now It seems that he has completely changed his previous opinion.
đ” According to Bloomberg's 2020 report, Elon Musk currently has about 160 billion dollars in assets, and is only 20 billion dollars away from Jeff Bezos, and may soon take over the position of the richest man in the world. #sanor016CommUNITY
According to the latest metrics, Grayscaleâs Bitcoin Trust, commonly referred to as GBTC, saw a decline of approximately 9,520.27 bitcoins, valued at around $410 million, between Jan. 31 and Feb. 1, 2024. During a two-day period, Blackrockâs spot bitcoin exchange-traded fund (ETF), IBIT, expanded its reserve holdings from 63,488.22 bitcoins to the current total of [âŠ] #sanor016CommUNITY
đ» BTC dropped more than 17% after SEC approved ETF Today, BTC drops to $40,300, resulting in $271 million crypto liquidation in 24 hours. đ€ If BTC continues to fall, how low will it go before the halving event? âł BTC Halving Date: April 22 (90 Days Remaining). #sanor016CommUNITY