THE BITCOIN ETF JUST FLIPPED!

THE BITCOIN ETF JUST FLIPPED!

how’s it going everyone it’s Sam grayscale just finished they just declared it the end of Bitcoin inflows they just had a negative day uh the two days before this the two trading days before this they actually had positive inflows for the first time so I want to go over that show you kind of what came out of grayscale along with some of the other news here today if you don’t mind hit subscribe turn on the Bell notification underneath the videos so you can see future videos just like this to be clear just because Grace scale is having some outflows I’m not bearish right I am bullish on this asset class for the long term but we could have some price fluctuations we’re seeing price fall down a little bit right now down to 627 628 about the level that we’ve seen a couple times right right here we found support support support support support hopefully we’ll continue moving up now I would be watching about the 62,000 Mark somewhere in there to see if we hold above this trend line and then obviously we just want to move up overall uh compared to where we’ve been we want to get out of this range up to that $67,000 Mark and if we could break above that that would put in a higher high which would be very nice but one thing that’s toing us back right now the ETFs the last week or so uh well besides the last two days but last week we had some pretty bad out out flows from the ETFs now we saw 2 days of inflows so let’s see how we stack up today so Mr 100 back buying 300 Bitcoin so far today the the ETFs just in general had a lighter trading day with ibit just at 500 million so one of the lightest trading days that I can remember gbtc around 300 fbtc around 200 gbtc had a 20 million $29 million outflow which honestly isn’t that bad it’s below their normal outflow amount below their average amount and after 2 days of inflows I don’t think anyone was sitting here thinking they were only going to have inflows because as I’ve said in the last few days there’s really no reason for people to invest in gbtc if you want explo exposure to the Bitcoin ETFs you can go through ibed or fbtc or BTO or arcb or bitb all of these have lower fees so there’s no real point in going through gbtc unless it’s past your compliance already or you just don’t know about the other ETFs and you’re just trying to get in as quickly as possible Arc B has a $3 million inflow day now the rest of the ETFs have not announced yet we don’t know what iit’s going to do or fbtc but so far looks like a you know probably like it’s going to be a positive day overall it’s going to be a positive day but probably not a massive day we did have lighter volume here today but we did get some clarification on who’s buying these ET FS $429 billion asset manager SE seana Sana I want to say seoa but I don’t think this is seoa Sakana International has reported owning $831 Million worth of bitcoin across 10 ETF so this is a half a trillion dollar asset manager this is large not Fidelity not Black Rock but this is a large asset manager and they’re buying Bitcoin in a lot of their ETFs almost a billion dollars worth of in uh worth of bitcoin this is the largest ownership of Bitcoin ETFs reported to dat keep in mind Black Rock and Fidelity could be larger holders than this company and maybe not this quarter but they could do that in the future right they have 5 billion and 10 billion in AUM uh sorry not billion trillion 5 trillion and 10 trillion in AUM and they can put their ETFs in they can put their their Bitcoin ETFs in other ETFs so they could easily surpass us and just a few clicks they could have well over a billion dollars just in the two ETFs that black rock has talked about or filed with the SEC that they may be putting the Bitcoin ETF in those broader ETFs um the Strategic income opportunities fund and the global allocation fund just in those two ETFs say 50 billion in AUM so they could just go put 2% in and they would outpace this asset manager and this is just in 50 billion of their uh funds keep in mind that’s 2% of their total funds so you put 2% allocation into 2% of your funds if you’re black rock and you already beat the largest asset manager um in terms of Bitcoin ETF reporting so yeah this is just the beginning keep in mind British hle says single $438 billion fund has disclosed a 3% position in Bitcoin this will scale to 3% within the next year according to him that’s 13.4 billion from one entity yeah that would be crazy right bitcoin price goes up because of numbers like this because people want Bitcoin we also have news that Bitcoin exchange inflows have hit the lowest level since 2015 at 20K Bitcoin so people aren’t aren’t pushing their Bitcoin into the into the exchanges to go sell they’re just holding it they’re sitting on it and you can also see it here Bitcoin exchange Reserve is down quite low 1.95 1.8 depending on where you’re looking depending on what um what service you’re using but crypto Quant shows under 2 million this is the lowest that we’ve seen in a number of years of course there were lower numbers years and years ago because you know there wasn’t as much Bitcoin to go around but we’ve just seen uh we’ve seen the supply drain I mean look at this 2.3 to 1.95 and we’re talking about a 15% reduction over about a year that’s a huge difference a 15% reduction in a year eventually the price will go up exponentially Elon Musk says this sounds insane if accurate now I’m not going to go super deep into this but apparently uh Trudeau and I I’m waiting to see more news on this because I haven’t seen this community noted he Elon Musk said you know Community come in here and say if this is wrong but they say the trudo regime has introduced an orwellian new law called online harms Bill C63 which will give police the power to retroactively search the internet for hate speech violation and arrest offenders even if the offense occurred before the law exists Ed okay so again I don’t know if this is legitimate I know for a fact this happens in other countries though and this is one more reason why some people want Bitcoin they want some kind of asset that can’t be taken away from them from them because of maybe some violation that they had years ago that they didn’t even know about that wasn’t illegal so yes this kind of thing continues to show why bitcoin’s more and more important and I’ve said this before but all roads lead to bitcoin every piece of news that I see brings me back to think Bitcoin could help this situation let me know your thoughts underneath the video though you can check out the link to Marx underneath the video again if you want to trade there’s also a link to coin W as you can see we are quite close to this trend line I’m interested to see what happens next and be ready because the next leg of the market is going to be insane thank you so much I appreciate it be safe out there I’ll see you in the next one bye

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