ETF outflows continue!

Hello!

I told you I was going to monitor the ETF inflows/outflows. Last week has been a constant SELL for the ETF hodlers. As you know this is manily because the Grayscale hodlers are selling massively.

The good news is that they are now below 350,000 in their wallets. They started 2 months ago at 600,000.
I still expect some sell pressure from them in the coming weeks. But at some point they will not have any more BTC to sell. And that's game over for the bears.

If you take a look at the chart you can see that we had 5 out of 5 days with outflows. And the price of Bitcoin is still hodling at $65,000. In my opinion this is huge news, we had a correction but we are still super close to ATH.

I am super excited for the future. This 2024 will be wild.

Willy Woo (https://twitter.com/woonomic/status/1771016261721608570) shared this tweet with the Bitcoin supply held by entities with balance 0,1 to 1 Bitcoin.
They were buyin until we got to All time highs, then stopped buying and at the first dip they started buying again. This shows conviction and resilience.

These entities are not going to sell at this prices. Good luck getting some coins from them.

In the own Willy Woo words:

Look at these pros, I'm proud of you all.Owners of between 0.1 - 1.0 BTC stopped stacking when it got over heading, then resumed buying the dip. Stack sats, stay humble.

Have a nice day!

Posted Using InLeo Alpha