Prominent Bitcoin (BTC) critic Peter Schiff indicates that overheated interest in BTC ETFs in Q1 might be dangerous for orange coin
Prominent Bitcoin critic Peter Schiff indicates that overheated interest in BTC ETFs in Q1 might be dangerous for orange coin
Aggregated Bitcoin ETF flows have been negative in the last few days. Adamant anti-Bitcoiner Peter Schiff predicts that this might be particularly bearish for the BTC price.In May 2024, the market for Bitcoin ETFs is imbalanced, with too many investors and almost no buyers. Meanwhile the supply of potential sellers is large, which is very dangerous for Bitcoin's price performance,"Gold Bug" Peter Schiff says.launched four months ago there were no sellers, only buyers.
While the interest in buying spot Bitcoin ETFs is stagnating, this imbalance might result in significant pressure on the Bitcoin price in the short term. In the last 10 days, Bitcoin ETFs in the U.S. logged a $230 million outflow. As covered by U.Today previously, May 1 was the"worst day" for the space, with $563.7 mln erased in 24 hours.Bitcoin ETFs controlled by paper hands?
The discussion about the nature of the firs generations of Bitcoin ETFs holders is ongoing. As U.Today reported earlier, some analysts are sure that only"paper hands" entered the segment, while confident holders are yet to come.ChainGPT Pad Launches Wisdomise AI IDO to Bring Inclusive, AI-Powered Wealth Management Tools to Web3
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Robert Kiyosaki says yes to Bitcoin, but no to BTC ETFs on XRobert Kiyosaki, author of Rich Dad Poor Dad, is popular for his investment advice and pro-Bitcoin stance on social media platform X.
Read more »
New Bitcoin whales, ETFs are up only 1.6% in unrealized profit — Is the BTC bottom in?The Bitcoin bottom may be in ahead of the halving, based on the profitability levels of large BTC holders and technical chart patterns.
Read more »
Bitcoin dips to $62K range despite growing international BTC validation via spot ETFsBitcoin (BTC) price closed down for four weeks in a row, based on the weekly chart, and could be on track for another red candle this week.
Read more »
Disappointing Launch Day for Hong Kong’s Bitcoin, Ethereum ETFs as BTC Slumps Below $61KCrypto Blog
Read more »
Peter Schiff Shares Crucial Bitcoin Support Level, Warns About BTC Price DropBitcoin critic and financial analyst has revealed critical BTC support level
Read more »
It’s Not Looking Good for Bitcoin HODLers, Warns Peter Schiff as BTC Correction ContinuesCrypto Blog
Read more »