📉Bitcoin could be repeating history and potentially setting up another trap.
📈Black Rock has bought over $100 million worth of bitcoin for their spot Bitcoin ETF.
💰Grayscale is dumping bitcoin, causing short-term selling pressure.
🔄Etherium is bouncing from critical short-term support, playing out a new pattern.
💡Bitcoin's price is expected to be bearish in the short term due to grayscale dumping.
What is Black Rock's spot Bitcoin ETF?
—Black Rock's spot Bitcoin ETF is an exchange-traded fund that holds bitcoin as its underlying asset.
Why is grayscale dumping bitcoin?
—Grayscale is dumping bitcoin to pay out in US dollars due to their bitcoin ETF being a cash creat ETF.
How much bitcoin is grayscale holding?
—Grayscale is currently holding over 528,000 bitcoin worth over 21 billion US dollars.
What is the fee for holding bitcoin in the grayscale Bitcoin trust?
—The fee for holding bitcoin in the grayscale Bitcoin trust is currently 1.5%.
What is the fee for holding bitcoin in the Black Rock Bitcoin ETF?
—The fee for holding bitcoin in the Black Rock Bitcoin ETF is 0.25% per year.
00:00Bitcoin could be repeating history and potentially setting up another trap. Black Rock has bought over $100 million worth of bitcoin for their spot Bitcoin ETF. Grayscale is dumping bitcoin, causing short-term selling pressure. The price of bitcoin is bouncing from critical short-term support.
02:32Grayscale is dumping around 10 to 20,000 bitcoin every weekday, causing selling pressure.
06:00The price of bitcoin is retesting previous support now acting as new resistance around $41,000.
08:34The short-term trend of bitcoin is bearish, forming lower highs and lower lows.
