Time to SELL Crypto Immediately? (Bitcoin Crashing Due to THIS)

Time to SELL Crypto Immediately? (Bitcoin Crashing Due to THIS)

you got three of the issuers on stage to
mark this momentous occasion as this
Hong Kong becomes the first in Asia to
offer retail investors a chance to trade
cryptocurrency ETFs why is Bitcoin
crashing today I mean we literally saw a
flash crash from around
$64,000 to now 59 and what’s worse is
not that we saw a crash crashes happen
every day with Bitcoin but actually
we’re now starting to see a series of
lower highs and lower lows indicating a
trend change to the negative and watch
today’s whole video I’ll share with you
what’s really causing this as well as CZ
of Finance going to prison and much more
but just understand that today started
out so
historic we’re here at the live ceremony
at the Hong Kong Stock Exchange and the
market is open it is 9:30 we’re just
running a couple minutes behind but you
can see they are assembling in front of
the gong this is a big listing ceremony
today uh the launch of crypto ETFs it’ll
be the first time in Asia retail
investors have a chance to trade
cryptocurrency ETFs at spot prices so
just like what Black Rock did in America
the Black Rock of China did in Hong Kong
to both Bitcoin and eth now this comes
just three months after the US launch of
similar ETFs tracking spot Bitcoin it
has drawn billions in dollars of net
inflows also contributing to a surge in
a bitcoin price earli this year year to
date it’s about 50% it has hit all-time
highs last month over
$73,000 now you can see that the Bitcoin
ETFs uh there’s about 14 ETFs that have
hit the market today from three
different issuers uh those issuers are
China asset management company Harvest
Global investment and hash key exchange
you can see the countdown has started
[Music]
and the impact from this the inflows
into this was underwhelming but there’s
a lot of people that are overhyping the
the value that that will provide so you
as an altcoin daily subscriber you were
ready for this you knew that the Hong
Kong Bitcoin and E ETF launch would be
much smaller than black rocks in America
the problem is the Hong Kong market is
very small Mainland Chinese investors
will not be allowed to invest in China
is very strict on this stuff it’s not
they you’re not just going to get be
able to buy access using a VPN and
different things like this is China
we’re talking about and how much money
actually flowed in on the first full day
we tried to warn everyone to lower
expectations regarding Hong Kong
especially versus the $25 billion hopium
estimate that said if you localize
numbers this was big just the China AMC
Bitcoin ETF took in over $123 million on
day one which already ranks it sixth of
82 ETFs launched in the last 3 years in
Hong Kong and top 20% overall to put it
in perspective the Hong Kong ETF Market
is about 40ish 45ish 48 billion dollars
in assets all ETFs listed in Hong Kong
the US ETFs are over 50 so the US ETFs
that we have here the US spot Bitcoin
ETFs have more in assets the entire
assets space in um Hong Kong that’s not
to say like if these things get a
billion dollars in assets in the first
year that would be an absolute smashing
success again people were expecting much
more which is one of the narratives on
why Bitcoin keeps dipping another big
reason people think we’re dipping is
because inflows for Black Rock ETF have
stopped black Rock’s Bitcoin ETF daily
inflow on halt for 4 days straight this
is coming off a 71 day inflow streak now
the inflows have stopped meaning Black
Rock clients are no longer buying and
according to the data from black Rock’s
official page the fund has held the same
amount of Bitcoin over the last four
trading days leaving a lot of average
retail investors to worry to sell their
bags in fear again altcoin daily
subscribers understand this is normal
first of all most ETFs don’t see a flow
every day in or out for the most part
it’s going to be zero that’s probably
going to be more along the lines of
what’s normal going forward uh it’s
standard and normal procedure for an ETF
just not to have flows on a given day
there are going to be days and weeks
where these things seem meaningful
outflows we just haven’t really seen it
yet aside from anything from gbtc like
aside from gbtc and then of course the
biggest reason Bitcoin had this red Wick
today leverage being flushed out $140
million in levered positions liquidated
in 4 hours as Bitcoin and crypto markets
drop meaning levered long positions were
betting that the Bitcoin price would go
up and then when it started to turn down
that liquidated the Long’s suppressing
price of course always good to get this
FL out and really in the grand scheme of
things a 20% correction from alltime
high is normal this is the fourth 20%
correction in BTC in 12 months pretty
ordinary stuff I would expect since we
had so much Mania into the Bitcoin
having that post Bitcoin having for a
few months us to consolidate we have our
next support around the
$1,000 BTC price point we could easily
drop to around here by the way all still
where the 200 day moving average is as
well if we take another leg lower that’s
where I’d expect price to land and with
binance ex binance CEO CZ sentenced to 4
months in prison this was after pleading
guilty to one count of violating the
bank secrecy act last November the doj
was recommending 3 years so because this
is only four months versus 3 years
that’s a win and also after those four
months CZ isn’t left with nothing cc is
still a billionaire as part of his uh
plea agreement he is allowed to keep his
shares in binance he has around a 90%
stake uh the value of that is around $43
billion he ranks on uh Bloomberg’s own
rich list on number number 38 so this is
one of the wealthiest uh individuals in
the world and by far the wealthiest uh
prison inmates when he when he
eventually does go to to prison whether
it’s for 18 months or 3 years or or
sometime in between so he he will still
be wildly wealthy and uh will be um
leaving prison after his uh his sentence
uh a billionaire we also have Bitcoin OG
Roger ver he is the creator of Bitcoin
cash labeled Bitcoin Jesus back in the
day because he was such a proponent for
Bitcoin think of him as the early
Michael sailor just in Bitcoin Jesus
Roger ver charged with $50 million tax
evasion Roger was arrested this weekend
in Spain with possible extradition to
the US the doj alleges that ver evaded
paying taxes to the amount of nearly $50
million conducted mail fraud and filed
false tax returns to me this is so
shocking cuz my brother and I were just
hanging with Roger in Dubai at token
2020 2049 we shared a car ride with him
to the Kate combat event so like a
50-minute a car ride where he was just
sharing early days stories talking about
jiujitsu which he’s into honestly truly
was a super nice guy and while he’s
being charged with $50 million tax
evasion keep in mind Roger is a
literally a multi multibillionaire I
assume he will just settle SL plea deal
and move on but we’ll see and I did not
know this or I I was reminded of this
that Roger actually revoked his us Citi
ship before selling this Bitcoin and
they still find ways to charge him so he
wasn’t an American citizen it was
officially over when he sold if you got
value today hit the like button like
always see you tomorrow

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TimeStamps:
00:00 Intro
00:45 Hong Kong Bitcoin ETF Failure?
03:35 BlackRock Bitcoin ETF Inflows on Halt for 4 Straight Days
04:34 The ACTUAL Reason Bitcoin Crashed Today
05:37 CZ Binance Sentenced to 4 Months in Prison
06:40 Roger Ver Arrested in Spain

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Disclosures of Material holdings:
Most of my crypto portfolio is Bitcoin, then Ethereum, but I hold many cryptocurrencies, possibly ones discussed in this video.

Material holdings over $1000 (in no particular order): BTC, ETH, MINA, DOT, SUPER, FEAR, XCAD, XDEFI, LINK, INJ, VPAD, BICO, SIS, MATIC, BNB, LMWR, TET, PAID, PRISMA, MXM, COTI, AIT, SEED, ESE, ZKL.

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