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BTC Market Update 22nd JanuaryIn the week subsequent to the introduction of the BTC Spot ETF, the cumulative trading volume across all 11 ETFs has reached $9.8 billion, with GBTC alone contributing $4.6 billion to this total. Since its transformation from a Trust into an ETF, GBTC has witnessed $1.17 billion in outflows, as shown in this link . This trend was anticipated, given GBTC's consistent trading at a discount since 2020, with the discount reaching as much as -48% at the beginning of 2023. The conversion to an ETF has been eagerly awaited by GBTC investors, presenting an opportunity to exit at par value. The current uncertainty revolves around the extent to which investors will withdraw from GBTC's $25.4 billion in assets under management. Following the ETF approval, BTC's price reached a peak of $49,100 but has since declined, stabilizing above the $40,000 support level. Trading volumes have decreased after the initial surge post-launch, and attention now shifts to the ongoing outflows from GBTC. This phase is likely a temporary market absorption, and it is anticipated that we may witness some choppy movements followed by positive momentum as we approach the Bitcoin halving in the next three months. #BitcoinETF #CryptoMarket #TradingTrends #GBTC #MarketOutlook #CryptoNews
by TheArabianWhale
2
BTC Market Update 14th January Post the spot ETF approval, there was a notable surge in significant inflows marked by high volumes. However, a distinct trend emerged with the redemption of AMEX:GBTC , highlighting two crucial points: first, there has been selling pressure on GBTC, and second, the anticipated inflows were lower than initially expected. Weekends often witness limited liquidity, and order books are less robust, implying a potential gradual decline until further clarity emerges. While a correction in BITSTAMP:BTCUSD seems probable, especially following an uninterrupted rally, such fluctuations are deemed normal in market behavior. During the weekend, GBTC couldn't execute sales, and BTC experienced a drop from 49K to 43K within 24 hours, partly influenced by Larry Fink's positive remarks on an ETH ETF, leading to a more than 20% rise in ETHBTC. However, GBTC is expected to resume selling on Tuesday. A second downturn is anticipated when GBTC announces outflows for yesterday. Contrary to the observed $94M outflow for GBTC, it pertained to Wednesday, preceding its going live. Thursday's outflows likely reached the hundreds of millions, already sold into the market via CME futures and BITO. Authorized Participants (APs) sell futures and manage BTC on a T+1 basis. People observed a $94M outflow for GBTC, but that was actually for Wednesday, prior to it going live. The outflows for Thursday are probably in the hundreds of millions, already sold into the market via CME futures and BITO. The Authorized Participants (APs) sell futures and then handle BTC on a T+1 basis. The advisable strategy for the time being is to adopt a patient approach, observing the market without immediate action. A prudent course of action is to wait and reassess the situation.
by TheArabianWhale
BTC 1D, TARGET .. OH MY GOOODD MY BTC AFTER ETF Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009. Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.” Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.
BINANCE:BTCUSDShort
by sungoku5
$BTC Analysis after Spot Bitcoin ETF Approval- The white resistance zone has been flipped into support - There is very strong resistance in the red resistance zone ($46,270 to $48,264) - The light blue trendline is my strongest resistance target around $49.1k - There has been a brief pump up to the light blue trendline and a strong rejection down that resulted in a long wick back down - Bitcoin is currently trying to flip the lower end of the red resistance zone into support at $46,270
BITSTAMP:BTCUSD
by realchartchamp
1
Bitcoin #BTC 2024 HTF PlanI've been bullish the whole of 2023 on BTC and overall Crypto. Right now, I feel pretty uncomfortable posting an HTF #BTC chart exactly before the ETF decision. Depending on how the market reacts this week, this plan may change completely though, "Show me the chart and I'll tell you the news". This saying is deeply engraved in my trading For the sake of the analysis, I will forget that there is major news incoming for Bitcoin and I'll analyze only the chart. This is not entirely correct though because the overall context always matters. CRYPTOCAP:BTC looks solid right here and my bullish bias hasn't changed, yet. I think another push higher is due. At least I am expecting $48,000 near term as I've specified multiple times on my X profile. This will be a sweep of the March 22 High which led to the major sell-off that marked the bottom later on in Nov. If after sweeping the high, the price loses the trend and starts breaking down, the only place where I'll be looking to start building HTF positions will be at the ~30,000 zone. There I'll be buying the 28/29,000 wicks. LTF Bullish shift of structure will be a $32,000 reclaim, where I'll be looking to add to my position from lower. The perfect scenario will be another push towards 38000 where the price needs to reclaim ~38,000, this will signal that the bulls are in full control of the trend and we may indeed see fresh highs. Can't say what can happen next, though if the price start reclaiming 48,000 and holding the trend, I think new all-time highs are in the cards
COINBASE:BTCUSDLong
by SolidTradesz
Bitcoin Halving's Impact AnalysisBitcoin Halving Cycles Performance (Pre/Post 1 year performance) Halving's Pre/Post year Performance: 1. 26th Nov 2012 - Pre 416% / Post 7715% 2. 9th July 2016 - Pre 110% / Post 283% (The full move including after the 24 month period was c.955%) 3. 11th May 2020 - Pre 76% / Post 423% 4. 27th April 2024 - Pre 50% / Post 200% Pre Summary (from H2) - 110% - 76% - 50% prediction (reducing by c.25% each halving). Post Summary (from H2) - 955% - 423% - 200% prediction (reduces by c. 50% each halving) You can see the pattern in the reduced returns in each halving. The pre halving returns typically reduce by 25% a halving and the post halving returns reduce by 100% per halving. We ignore the first having as it was exponential introductory growth of the asset. Important Dates are 27th April 2024 (halving date). Good place to skim or wait for a pullback). Also the date of 25th April 2025. This is a softer date, a take profit early date potentially, most cycles have ended in Q4 of the given year thus some chips should be left on the table post April 2025 depending on the continued performance up to that point. Always a pleasure, I hope its been insightful Puka
INDEX:BTCUSDLong
by PukaCharts
6