The price of Bitcoin and crypto in general has been soggy over recent weeks, and so have bitcoin ETF flows, which have turned slightly negative for six out of the last eight trading days.
These short term correction are not out of characters with or without etf. Think we chop towards 20w(53k) MA then move higher post halving. Can't be too bearish pre halving with liquidity cycle continue to drift higher into 2025. Appreciate your input Geo. Have you thought about opening the comment section to your Telegram?
The halving is mostly a bullish narrative which may or may not result in actual price appreciation. It only amounts to $27m less of BTC supply every day, which isn't that impactful. It's possible that the market is already positioned long expecting it to be a bullish event, which could result in disappointment. That said, I'm open-minded to the possibility that this dip is a pre-halving shakeout and will be ready to reenter if it looks like the uptrend is resuming.
I wanted to steer all comments to one place which is why Telegram is broadcast only. Happy to answer any questions you might have here on Substack.
These short term correction are not out of characters with or without etf. Think we chop towards 20w(53k) MA then move higher post halving. Can't be too bearish pre halving with liquidity cycle continue to drift higher into 2025. Appreciate your input Geo. Have you thought about opening the comment section to your Telegram?
The halving is mostly a bullish narrative which may or may not result in actual price appreciation. It only amounts to $27m less of BTC supply every day, which isn't that impactful. It's possible that the market is already positioned long expecting it to be a bullish event, which could result in disappointment. That said, I'm open-minded to the possibility that this dip is a pre-halving shakeout and will be ready to reenter if it looks like the uptrend is resuming.
I wanted to steer all comments to one place which is why Telegram is broadcast only. Happy to answer any questions you might have here on Substack.
Hi Geo -- how can I access your TG chat?
Send me an email by replying to my post in your inbox.