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Is the BTC price bottoming out? ETF buying will be a key force
Author: SoSoValue Research
Today, after the price of Bitcoin quickly fell below the previous important support level of $56,000, it became difficult to continue to make investment judgments from a traditional technical perspective. Where is the bottom of this round of decline? It has become the most concerned issue for all investors. Whenever the market encounters such a large panic moment, let us use the first principles and return to the basic mechanism of price formation, the analysis of the supply and demand relationship of Bitcoin. We hope that by studying the status and motivation of buyers and sellers, we can unravel the mystery and help investors find the best buying point in this round in a market full of different opinions and emotions.
Today, after the price of Bitcoin quickly fell below the previous important support level of $56,000, it became difficult to continue to make investment judgments from a traditional technical perspective. Where is the bottom of this round of decline? It has become the most concerned issue for all investors. Whenever the market encounters such a large panic moment, let us use the first principles and return to the basic mechanism of price formation, the analysis of the supply and demand relationship of Bitcoin. We hope that by studying the status and motivation of buyers and sellers, we can unravel the mystery and help investors find the best buying point in this round in a market full of different opinions and emotions.
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July 8 Bitcoin ETF three major data show that the market may see a reversal trend
Author: SoSoValue Research
1/GBTC ETF Net Inflows: Grayscale Investments (GBTC) ETF saw net inflows for the first time since June 5.
Despite its high management fees, Grayscale saw rare net inflows yesterday, suggesting retail investors in the U.S. stock market are buying the dip.
data source: SoSoValue
2/Six ETFs have high premiums (FBTC 0.34%): Except for GBTC, the other 10 ETFs maintain positive premiums.
Six ETFs had a premium of more than 0.3%, of which the Fidelity (FBTC) ETF had a premium of 0.34%. This reflects strong market confidence, and the inflow of funds into the stock market indicates that investors have increased confidence in Bitcoin.
1/GBTC ETF Net Inflows: Grayscale Investments (GBTC) ETF saw net inflows for the first time since June 5.
Despite its high management fees, Grayscale saw rare net inflows yesterday, suggesting retail investors in the U.S. stock market are buying the dip.
data source: SoSoValue
2/Six ETFs have high premiums (FBTC 0.34%): Except for GBTC, the other 10 ETFs maintain positive premiums.
Six ETFs had a premium of more than 0.3%, of which the Fidelity (FBTC) ETF had a premium of 0.34%. This reflects strong market confidence, and the inflow of funds into the stock market indicates that investors have increased confidence in Bitcoin.
#XRPEscrow #ETH-ETF $ETH $XRP ETF soon after Bitcoin ETF got approved, keep an eye on these two tokens price action
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