John_Q_Public

BTC Price / BTC Proshares Ultra / BTC Largeholders Outflow Study

COINBASE:BTCUSD   Bitcoin
Curious to see the correlation between BTC price action and who is moving the market. BTC Largeholders is based on the top .01% of BTC holders which is of course largely the ETF funds such as Grayscale and Blackrock et al buying up huge amounts of BTC. These ETFs are not going to HODL, that's not how institutional investors operate. Notice the correlation between Proshares price and BTC Largeholders. The consensus is that institutional investors would be good for the cryptosphere because it can only go up because all they will do is buy. That's illogical. They have a fiduciary responsibility to their fund investors to make them money whether it's longing OR shorting BTC or else the investors leave the fund, the fund doesn't collect as much revenue from fees and the fund collapses. Guess what happens to BTC price when a fund goes bust and sells all their BTC holdings... In my opinion the only thing institutional investor ETFs will do is moderarte the market and prevent any wild price swings. There will be corrections, some severe but BTC probably needs a good correction to clean up all the gaps. BTC needs to stabilize in this new enviroment and grow at a moderate rate. Mooning and Lambos are done, the big boys will see to that. Why HODL when you can short millions of BTC and make the same money... Just my thoughts. Different landscape now and I believe people are starting to come out of their hopium haze and realize that. I hope so for all of crypto.
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