You're right. But, upwards or not, it's still a channel and it will likely chop around until there's a definitive breakout.
Is the crypto winter over?
- Thread starter schizo
- Start date
Well, the tail indicates that buyers obviously thought it was a bargain and scooped it right back up. But to see that happening twice on the same day is pretty remarkable IMO.
The etf deadline is January 10, if delayed again, new deadline will be in March
Are you short, yet?
You're gonna miss out on all the fun
Not yet, but I'm slowly positioning myself for it. I'm having too much fun with JPY at the moment. I'll let you know when I'm ready. Anyway, I don't see why ETF approval is taking so long. This country has too much damn bureaucracy.The etf deadline is January 10, if delayed again, new deadline will be in March
Are you short, yet?
You're gonna miss out on all the fun
The first time Gemini (Winklevoss twins) applied for the bitcoin etf was over 10 years ago!
But no one can say no to the Blackrock bosses and even JP Morgan is involved as the Authorized Participant of Blackrock
It can only be delayed but not rejected
Would-be spot bitcoin ETF issuers kick off fee war ahead of approval deadline
https://www.reuters.com/technology/blackrock-sets-030-fee-proposed-spot-bitcoin-etf-2024-01-08/
If I've learned anything in my short 30 years of trading, it's this: Rumors usually turn out to be true.
https://www.reuters.com/technology/blackrock-sets-030-fee-proposed-spot-bitcoin-etf-2024-01-08/
If I've learned anything in my short 30 years of trading, it's this: Rumors usually turn out to be true.
Well, obviously the fills I wanted on my Options-Futures didn't get hit today. Hopefully, there is a pull-back tomorrow...
The rumor is at least 8 months old when Blackrock applied for the ETF
Are you buying the rumor, selling the news?
I bought the rumor and will keep holding even after the news unless I get liquidated
The dump the other day was probably insider trading around the fact that the approvals are inevitable.A sell the news move.
If they are smart they would have caught the move both ways.
It seems like the initial "pump" of the spot ETF approval is already priced in.
As is, 43% of CME BTC Futures belong to futures-based ETF and with the spot approval, more investors will likely rotate over to cheaper spot ETFs. And with this happening, futures funds will need to close their positions - forcing a squeeze causing even more downside potential.
This is my thesis, any thoughts?
As is, 43% of CME BTC Futures belong to futures-based ETF and with the spot approval, more investors will likely rotate over to cheaper spot ETFs. And with this happening, futures funds will need to close their positions - forcing a squeeze causing even more downside potential.
This is my thesis, any thoughts?