Wall Street's BTC holdings have exceeded more than 1m 🥳

in hive-103599 •  27 days ago  (edited)

1000024015.jpg

Source: BitcoinTreasuries

Since the inception of spot BTC(Bitcoin) ETFs trading in the early 2024, they have been accumulating spot BTC.

Today, BTC price has plunged a little bit. Some retail investors are worried about a next deep price correction. But, what has Wall Street been doing?

1000024018.jpg

Source: Apollo

They bought 12k BTC this Tuesday. It seems the price of BTC doesn't matter for them. Take a look at the chart. Their net spot BTC ETF flows are a new ATH(All Time High).

1000024020.jpg

Source: Coinglass

I think today's BTC price collapse is caused by the derivative markets. Because, there's no specific internal issue for the BTC. And, the trading volume of BTC futures is overwhelmingly higher than that of spot BTC trading.

Anyways, I believe this price plunge will recover next week 🙏 I think Wall Street wants retail investors to stay in doubt continuously. I won't be one of them. I want to be a colleague of Wall Street this cycle. But, someday they could unintentionally betray crypto investors, such as hacks of spot BTC ETFs, etc.

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nice!

Congratulations, your post has been upvoted by @nixiee with a 94.95383233960304 % upvote Vote may not be displayed on Steemit due to the current Steemit API issue, but there is a normal upvote record in the blockchain data, so don't worry.

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