Who had that Bitcoin target price prediction?

r32

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so you think it's going to 32k?

if it does i may increase my DCA rate
really tough to predict the bigger moves. We definitely got a solid rejection today and Grayscale transferred 4000 BTC to Coinbase this morning, and updated the holdings numbers on their website to reflect a sell off of 2000 BTC. I don't think they're done selling.
 
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r32

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Grayscale continues to dump, and BTC continues the slow slide. Things working out well for the 'sell the news' ETF event.

Grayscale has dumped more than 50,000 BTC so far. They still have over 550,000 BTC remaining, but sent another $900m worth to Coinbase this morning.

Somewhere around 34k looks like support.
 
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ghost_of_lewis_samuels

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Grayscale continues to dump, and BTC continues the slow slide. Things working out well for the 'sell the news' ETF event.

Grayscale has dumped more than 50,000 BTC so far. They still have over 550,000 BTC remaining, but sent another $900m worth to Coinbase this morning.

Somewhere around 34k looks like support.
what's the deal with this?

were people not able to sell out of Grayscale before?
or are some people selling to move in to other efts that have lower fees?

any clear answer on the Grayscale outflows?
 

bird.LA

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Jul 14, 2002
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what's the deal with this?

were people not able to sell out of Grayscale before?
or are some people selling to move in to other efts that have lower fees?

any clear answer on the Grayscale outflows?
Grayscale was non-convertible meaning you could send bitcoin in to make a new GBTC share, but you could not redeem GBTC for bitcoin in return. Because of that, selling it caused GBTC to trade under the value of the bitcoin it held in its trust.

Now that it's converted to an ETF (with much higher fees than other ETFs) traders who bought it for the discount in order to sell when it reached parity with the underlying bitcoin are redeeming. At the same time, people who want to hold bitcoin in a tradfi account are swapping GBTC for lower fee competitors, mostly Fidelity and Blackrock it looks like.
 

r32

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what's the deal with this?

were people not able to sell out of Grayscale before?
or are some people selling to move in to other efts that have lower fees?

any clear answer on the Grayscale outflows?
Part of it is FTX.

FTX held over $billlion worth of GBTC and are dumping their stacks. I'm not sure if Grayscale held GBTC for them as a custodian, or if FTX held their own GBTC but Grayscale converted to ETF.

But Grayscale is a custodian so they hold GBTC of their customers shares. So if their customers sell, Grayscale has to sell those corresponding GBTC. The outflows are in the $billions the last couple of weeks.

Also, BTC halving is very close in April, so follow the miners wallets if they are known.

"CoinShares, in its latest “Mining Report” noted that there's a “peak in hashrate growth often occurs about four months before the halving"
 

r32

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My post from Jan 10th


Still watching the 32k zone for possible bounce. So far, it's playing out perfectly.

1706023807259.png
 

perfect_wave

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The Pond Coin ecosystem with its yield producing utility token PNDC and meme token PORK (Pepe Fork) are going to be massive this cycle. Look at the momentum on the charts, on twitter, any metric you want. I’m not going to post about it again here. Consider this the best random crypto tip you’ll come across on the erBB for this bullrun.
 
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ghost_of_lewis_samuels

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The Pond Coin ecosystem with its yield producing utility token PNDC and meme token PORK (Pepe Fork) are going to be massive this cycle. Look at the momentum on the charts, on twitter, any metric you want. I’m not going to post about it again here. Consider this the best random crypto tip you’ll come across on the erBB for this bullrun.
pretty sure it's gonna tank
 

perfect_wave

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Dec 5, 2002
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pretty sure it's gonna tank
Pork up 26% since you ran your mouth. Did you do any research before this statement? Do you want to make money or do you want to be “right”? Critiques are fine, but uneducated takes don’t help anyone.

I know the erBB will have no effect on the chart, so it matters fk all to me if you join. It’d be nice for surfers here to get a win, that’s all. I’ve been in crypto since 2013–I know what I’m talking about.
 
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