NUGGETS OF ALPHA
Grayscale experienced $579M worth of outflows
BlackRock pulled in 11,500 BTC in the first two days of the ETF
111,000 BTC were sold at a loss by short-term holders this week
JPMorgan analyst predicts 50% chance of spot Ethereum ETF in May 2024
The Bitcoin return is at 2% for the year despite the historic ETF announcements.
While last week was Bitcoin's ETF week, Ethereum rallied up 15.4%. The other ETH chains did well. Solana was down 4%. Binance was down 3%.
It was a mixed week overall:
ETH +12.49% to $2,500
BTC -2.5%
The dollar's status as the world's reserve currency is facing threats
Bitcoin's remarkable worldwide adoption is stunning
The biggest money runners on the planet having a spot ETF is huge for the space
GBTC dominated the volume of the first two days, which is heavy selling. This is attributed to its fatal mistake of charging 1.5% fees when other players charge 0.2%. What transpired is not bad in the long term for Bitcoin investors, so let's further examine why...
According to Butterfill’s' analysis, $1.2B of inflows came into Bitcoin through the ETF last week. However,
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