ETF

No-Tie-9537

He could’ve gotten $1.4M in dividends every year had he put the $45 million in an index fund like $SCHD ETF. Even reinvesting $800k you’d be left with $600k to spend…

Flashy_Poet5456

Or even half of that. Put $10M into Bitcoin, $10M into a global ETF, $10M into real estate, $5M into stocks, and use the remaining $5M to enjoy a comfortable home, cars, and everything else you want.

Environmental_Ice_80

decentrali Wat? XD number of BC ~ 21.000.000 State / Government holdings: · USA: ~205,000 BTC · China (seized, mostly sold): <50,000 BTC · Ukraine: ~46,000 BTC · UK: ~61,000 BTC · Germany (mostly sold now): ~0–10,000 BTC · North Korea (hacked): ~50,000 BTC · Other governments: ~30,000 BTC   → Total government known: ~250,000–330,000 BTC · Satoshi Nakamoto (unmoved early blocks): ~600,000–700,000 BTC · MicroStrategy (Michael Saylor): ~400,000–500,000 BTC · BlackRock, Fidelity etc. (ETF custody): ~800,000+ BTC · Exchanges (Binance, Coinbase — user funds): ~1,000,000–2,000,000 BTC. so how many is left for the rest of the "paying customers" ? XD

AutoModerator

Post is by: web3Dof and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1u1ukgi/how_i_stopped_being_exit_liquidity_6_years_using/ &#x200B; Around six years ago, I experienced one of the most frustrating moments of my trading career. I entered what looked like a textbook breakout trade. The technical setup was clean. Momentum was strong. Sentiment across crypto social media was overwhelmingly bullish. Within minutes, a massive wick hit my stop-loss, closed my position, and then price immediately reversed and moved exactly where I expected it to go. I wasn't wrong about the direction. I was simply liquidity. That experience sent me down a rabbit hole trying to understand why so many traders lose money even when their market thesis is correct. The biggest realization I came to was this: Most retail traders spend their time analyzing price. The market spends its time hunting liquidity. Once I started studying derivatives data, open interest, funding rates, liquidation clusters, and whale positioning, I realized there was an entire layer of market structure I had been ignoring. That eventually led me to CoinAnk. The feature that changed the way I trade was the liquidation heatmap. Instead of asking: "Where do I think price will go?" I started asking: "Where is the largest concentration of forced liquidations likely to occur?" That simple shift completely changed my framework. I've noticed that many experienced traders on Reddit discuss liquidation clusters and open interest as important context for understanding sudden price moves and stop hunts. Some traders specifically use heatmaps to identify crowded areas where forced liquidations can accelerate volatility. What I found useful wasn't using the heatmap as a signal by itself. Instead, it became a tool for context. I stopped placing stops in obvious locations. I stopped chasing breakouts blindly. I became more aware of where leveraged traders were positioned and where liquidity was likely sitting. Six years later, CoinAnk is still one of the main tools in my workflow because it combines several datasets I care about: Liquidation Heatmaps Open Interest Tracking Funding Rate Analysis Whale Wallet Monitoring ETF Flow Data Institutional Positioning Metrics The platform has continued expanding its derivatives and liquidity analytics, including liquidation heatmaps, open interest tracking, ETF monitoring, whale-position statistics, and fund-flow analysis. I'm curious how others here approach derivatives analysis. Do you actively monitor: Open Interest? Liquidation Heatmaps? Funding Rates? ETF Flows? Whale Wallets? Or do you focus purely on price action and market structure? Would love to hear what has actually improved your trading over the years. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

Suspicious-Can-7079

Xrp crazy price targets come from cult like propaganda that pretends it's going to be the world currency. They're using the Ethiopian calendar for their predictions because their date has already passed.. That's all you really need to know. Incoming AI slop on 1k xrp "Pure math first, then the narrative requirements. The math XRP has \~62B circulating supply and a max supply of 100B.  At $1,000/XRP: • Circulating market cap: \~$62 trillion • Fully diluted: \~$100 trillion For context, total global GDP is \~$110T. The entire US stock market is \~$50T. Bitcoin’s ATH market cap was around $2T. XRP at $1,000 would be the largest single asset in human history by a massive margin. What would actually need to happen 1. XRP becomes the dominant global payment rail. SWIFT processes \~$5T/day in cross-border flows. For XRP to justify that valuation, it would essentially need to capture a significant share of all global financial settlement — not just cross-border payments, but FX, trade finance, sovereign reserves. Even then, the question is whether XRP needs to be held to move value, or just used as a bridge (the velocity problem — high velocity = low holding requirement = lower price). 2. Massive supply reduction or burn mechanism. Unlike ETH (with EIP-1559) or BTC (21M hard cap), XRP was fixed at 100B at launch with no burn mechanism built in.  Without destroying supply, the per-token price ceiling is structurally lower than scarcer assets. 3. Ripple stops selling. Ripple controls \~42% of XRP through escrow reserves  and releases tokens on a schedule. That’s a persistent supply overhang. At $1,000, Ripple’s escrow would be worth \~$38 trillion — they’d be the richest entity ever created with enormous incentive to sell. 4. Regulatory and geopolitical tailwinds at a civilizational scale. XRP ETFs launched, SEC clarity arrived — that’s a catalyst for a $3–10 price, not $1,000. The jump from here to $1,000 is \~850x. Even the most bullish XRP scenario (replaces SWIFT, global adoption) struggles to justify more than low-to-mid three figures. Bottom line: $1,000 XRP requires a market cap that exceeds global GDP. It’s not a price target — it’s a thought experiment about whether a single crypto asset could become the reserve settlement layer of the entire world economy, with Ripple somehow not being a seller at those levels. Theoretically possible in a science fiction framing, practically implausible within any investable timeframe. If you’re bullish XRP, the realistic high-conviction range to debate is $10–50 (solid adoption, ETF flows, ODL scaling) vs. $100–200 (dominates global FX settlement, becomes quasi-reserve asset). $1,000 requires premises that would restructure the global financial system entirely."

Suitable_Acadia_190

That is a real cost and worth taking seriously. The preferred equity and convertible note structure Strategy uses to fund acquisitions carries yield obligations that do not disappear in a bear market. The counterargument is that the arbitrage only breaks if BTC appreciation persistently underperforms the cost of capital over the holding period. At current treasury size and with the ETF demand floor underneath spot price, that is a structural bet against the asset itself rather than against the financing model. Saylor is essentially long the spread between BTC appreciation and 11% yield. Whether that spread holds is the actual debate. The fools running out thesis assumes the yield stops attracting capital. It has not yet. That may change. But the demand floor point stands independent of whether Saylor's financing model is genius or eventually a cautionary tale.

Educational_Cable405

Worth checking the 13F filings before calling it adoption. A big chunk of the ETF inflows was hedge funds running the basis trade, long the ETF and short CME futures, which is yield farming and not conviction. That money left the moment the spread compressed in early 2025, and it'll come and go like that every cycle.

Laukess

People keep talking about institutions. The institutions that actually matter are governments and things like pension funds. A lot of the legal roadblocks have been removed and continue to be so. I think this will have a positive impact on the price long term, but we haven't seen much so far. Saying institutional adoption is increasing because MSTR and the ETF are popular seems dishonest to me. MSTR is pretty much an ETF like instrument aimed at retail, and I believe a lot of the ETF's are bought by retail as well. Yes, the both make it easier for institutions to buy bitcoin, but I don't think it's helpful to say institutions has bought 845k bitcoin because retail has bought it through MSTR.

Mean-Fix9221

Been seeing the same ETF flows and corporate treasury adds for months now, not really anything groundbreaking happening 🤷‍♂️

baIIern

Buying a Bitcoin ETF for 401k is a very dumb idea imho haha. People are realizing it

CFDsForFun

Not really. It’s been 5 years and performed awfully. If I had an ETF down after 5 years I’d be complaining, not justify it with “it’s a bear market now”. 5 years should be enough time for a quality asset to appreciate. I know there are examples eg Japan but no one is saying “it’s a bear market”. They are saying it’s a lost multi decade of returns

devCheckingIn

I thought we were finally going to have a net positive ETF day yesterday, but then IBIT came in with the last-minute mega-dump.

NebeusMarketing

Bitcoin around $60k has meant very different things in different cycles. In November 2021, BTC fell back toward $60k just days after hitting a then-record high near $69k. That was still basically late-cycle euphoria: [https://www.reuters.com/technology/bitcoin-falls-more-than-4-near-60000-2021-11-16/](https://www.reuters.com/technology/bitcoin-falls-more-than-4-near-60000-2021-11-16/) In February 2024, BTC returned to $60k during a strong ETF-driven rally. Reuters reported that Bitcoin was up around 42% that month, its biggest monthly gain since late 2020, helped by inflows into newly approved US spot Bitcoin ETFs: [https://www.reuters.com/technology/bitcoin-eyes-60000-biggest-monthly-rally-since-late-2020-2024-02-28/](https://www.reuters.com/technology/bitcoin-eyes-60000-biggest-monthly-rally-since-late-2020-2024-02-28/) Now, the same \~$60k level is happening after a roughly 50% drawdown from the October 2025 high. Reuters also noted that $60k is close to Bitcoin’s 200-week moving average, around $61,778, making it an important technical support area: [https://www.reuters.com/markets/global-markets-technicals-graphic-2026-06-08/](https://www.reuters.com/markets/global-markets-technicals-graphic-2026-06-08/) There is also a leverage angle. CoinDesk reported that the recent break below $62k triggered more than $1.5B in crypto liquidations in 24 hours, including over $800M in Bitcoin positions: [https://www.coindesk.com/markets/2026/06/04/bitcoin-drops-below-usd62-000-as-usd1-5-billion-in-crypto-longs-get-wiped-out](https://www.coindesk.com/markets/2026/06/04/bitcoin-drops-below-usd62-000-as-usd1-5-billion-in-crypto-longs-get-wiped-out) So I don’t think the useful question is “was $62k expensive or cheap?” The better question is: What kind of $62k is this? 2021: $62k near euphoria. 2024: $62k during ETF-driven momentum. 2026: $62k after a 50% drawdown, near long-term technical support, after a leverage flush. Same price. Completely different market structure. That does not automatically make it a buy, but it does mean the risk/reward setup is not the same as the last time Bitcoin traded here.

No_Thanks2844

billions of $ in ETF outflows.

No_Thanks2844

billions of $ in ETF outflows.

Bluejumprabbit

Buying ETH here makes sense if you think onchain dollars and tokenized stuff keep settling on Ethereum. If that keeps growing, $1500 is cheap because ETF holders still do not get staking or onchain yield and spot holders do.

devCheckingIn

Could be people closing shorts. There were some actual ETF buys today.

Sad_Experience_2516

That’s a good point and probably one reason ETH ETFs don’t behave exactly like BTC ETFs. If the product doesn’t capture staking yield, there’s a real opportunity cost for longer-term holders. I still think ETF flows matter for directional demand, but I agree the no-staking structure makes the ETH ETF trade less clean than the BTC one.

Savings-Leading4618

Because they need money now, not in 2-3 years. They might need to spend that money, or they might decide to allocate the capital to other investments such as IA. Also, Bitcoin is at 60k, when ETF's launched not so much ago, bitcoin was at 30k, this is easily a 2x in a short period of time for a lot of investors.

Siludin

I don't get it - why not just buy a BTC ETF instead of this stock? Please explain me very dumb

ecrane2018

Then buy the ETF, that’s been out for almost 2 years.

BHG_702

Nah bruh 😭 lol what do you mean by “great way to sell ETF’s”?

Deep_Reading_3975

Big 🍊 playbook: After getting de-banked by numerous major banks because of Jan 6 a MASSIVE percentage of generational wealth / liquidity became exposed on the friggin’ block chain due to nowhere else to put it. Commence: \- Generating public support and regulation \- Popping pump-n-dump coins with blowoff tops carefully timed to occur during major donor parties \- Suggesting a “Sovereign wealth / Bitcoin fund.” \- Pardon major crypto criminals (guilty or not) that can add to the protection of the family’s generational wealth \- Encourage trad finance adoption through spot ETF’s. \- Get the Hell back into traditional banking system as fast as humanly possible!!! \- Cue crypto crickets… 🦗 🦗 🦗 Can’t you hear them yet? Not even trying to be political. Not even going there. I understand trying to protect one’s family wealth. You just have to see that a MAJOR support for the asset, the whole class, has evaporated - 💨

TheresNoSecondBest

Congrats on the move, it's never too late, [despite new people thinking otherwise](https://old.reddit.com/r/Bitcoin/comments/rskpuf/i_have_only_600_bitcoinsi_missed_the_bus/). ONLY INVEST MONEY YOU CAN AFFORD TO LOSE. Invest in your knowledge, learn about Bitcoin as much as you can. The Bitcoin Standard book is a must read. So is Broken Money by Lyn Alden. Also, **don't reply any DMs**, emails, private messages on other social media, promising to buy Bitcoin from them or get rich quick by investing into some website. They all are scammers. Even the hot Asian chick, he's a scammer too. **Price wise, nobody knows what the price will be tomorrow, next week or at the end of the year.** **Try "Bitcoin ONLY" strategy for at least the first 210,000 block cycle**, you'll sleep much better. Newcomers lose so much money, holding tokens just because someone on YT told them to. If you don't like losing money in [failed coins](https://www.coingecko.com/research/publications/how-many-cryptocurrencies-failed), avoid. DCA is probably the best approach. Once a week works best for me, but I'm getting paid weekly. This [DCA calculator](https://21vox.com/dca-calculator) might help to decide what will work best for you. In a few years, even $10 dollars a month can make a massive difference. This [DCA blog](https://er-bybitcoin.com/) is pretty interesting too and compares buying bitcoin VS stocks. Now, don't buy some fake bitcoin at a spot ETF place or similar, **get the real thing** that you can withdraw anytime you want. Register at a proper exchange and buy real Bitcoin. Any of these will do [https://bitcoin-only.com/get-bitcoin](https://bitcoin-only.com/get-bitcoin) Install (or buy - in case you're getting Bitcoin in Thousands of $) one or more of these wallets. **A few good wallet choices:** [https://blockstream.com/app/](https://blockstream.com/app/) \- Top Security Features, Open Source and Non-Custodial [https://bluewallet.io](https://bluewallet.io/) \- excellent, easy to use wallet, Open Source and Non-Custodial [https://www.sparrowwallet.com](https://www.sparrowwallet.com) - top desktop wallet [https://electrum.org](https://electrum.org/) \- Solid choice, Open Source and Non-Custodial, one of the oldest and most trusted Bitcoin Wallets. I prefer the desktop version but it works on mobile too. **Lightning wallets** to consider (cheaper and faster transactions, great for small amounts): [https://phoenix.acinq.co/](https://phoenix.acinq.co/) \- Phoenix - very good wallet, uses Tor for extra privacy, easy for anyone new [https://blixtwallet.github.io/](https://blixtwallet.github.io/) \- Blixt - great UI, fast and clean. The app runs a full LND node on your phone and you have the ability to easily open channels to whatever nodes you like. [https://zeusln.com/](https://zeusln.com/) Zeus - impressive wallet with many features, can even generate Nostr keys [https://breez.technology](https://breez.technology/) \- Breez - excellent POS for small business owners as well as integrated Bitrefill Note: Breez does also a hybrid liquid/LN wallet called Misty Breez - the sats being on liquid means no need for channels although the payments take a few extra seconds. You'll also can get a free customable LN address. While talking about hybrid wallets, there's also Aqua Wallet although not IMHO as good as Misty Breez. There are also custodial LN wallet but I would honestly avoid using them because you have to trust the wallet operator not to steal your money. Their only advantage is that they are incredibly easy to use, although it might cost you big one day. To keep up to date with spending wallets, visit r/TheLightningNetwork at least once a while and perhaps r/RGB in the future. **Hardware Wallets** (to store larger amounts): [Trezor](https://trezor.io/) \- Easy to use, no matter how new in Bitcoin you're. If you can afford it, opt for Safe 7 (air-gapped) and use the Bitcoin only firmware as it's safer than a multi coin software. [ColdCard](https://coldcardwallet.com/) - air gapped, Bitcoin only, has advanced features but a new user will do fine with one of the great tutorials available. [BitBox02](https://bitbox.swiss/bitbox02/bitcoin-only/) - another great little device, opt for the more secure Bitcoin ONLY version (less coins = less code = less chance for a hidden bug or a backdoor). Sadly, this device is not air-gapped. [Jade](https://blockstream.com/jade) - air gapped, fully open source, Bitcoin only, great features. There's a newer version called Jade Plus, it has much better camera and overall is a better, although a bit more expensive, option. You can even [build it on your own](https://github.com/Blockstream/jade/), if you feel adventurous. [Seedsigner](https://github.com/SeedSigner/seedsigner) - another DIY, fully open source, air gapped, Bitcoin only hardware wallet, not for you if you're just starting up but something to consider later. [Krux wallet](https://selfcustody.github.io/krux/) - one more DIY hardware device, I love this one for many reasons. Similar to Seedsigner, it's fully open source, air gapped, Bitcoin only hardware wallet, that is not for you right now if you're just starting up, but something to consider at a later stage and/or to up the security of your bitcoin. There's also Ledger, but I wouldn't recommend it as it's not fully open source, keep and already leaked customers' details, recently said they're capable of sending customers' keys out just with a firmware update, making is an expensive hot wallet. The opposite of what you want from a cold wallet. **Stay away**, save yourself a headache in the future. The same goes for many other hardware wallets that are too new or filled with too much of unnecessary shitcoin code. Stay away. Whatever wallet you'll decide to buy, purchase DIRECTLY from the manufacturer, no eBay, no Amazon. Make sure the device is NOT preset, and you will generate your own seed words. Write them down on any piece of paper as well as the receiving address. Now wipe the wallet and generate a new wallet. If the seed words are different from the first set, you're safe to use it. Find an option to set a passphrase and use it. This will boost the security to another level. Never store the seed words and passphrase together. Use a different medium if possible. If somebody finds both, they'll be able to steal your coin. This little device will hold the keys to your money, that's the reason why you have to be a bit more careful. Also, no worries, if it breaks, you can replace it - as long as you keep your seed words and passphrase(s) safe. Welcome to the rabbit hole and don't hesitate to ask if you have any questions anytime during your Bitcoin journey. Also, [check the sidebar](https://www.reddit.com/r/Bitcoin/about) that's filled with lots of great info and if you have any questions, visit r/BitcoinBeginners or r/Bitcoin and look for the answers.

TaxSaveIQ

That's why some traders prefer deep in-the-money LEAP calls instead of buying shares outright. The appeal is getting exposure to a potential long-term recovery while committing less capital upfront. And since LEAPS have a longer expiration date, there's more time for a bullish thesis to play out compared to short-dated options. Of course, no strategy is perfect. If the market continues lower, both shares and LEAPS can lose value. But for investors who believe the Nasdaq will be significantly higher over the next couple of years, it's an approach worth understanding. Before making any decision, it's helpful to run different scenarios and see how volatility can affect leveraged ETFs over time. You can use the Leveraged ETF Decay Calculator to test TQQQ, UPRO, SOXL, and other leveraged ETFs under different market conditions and see how the numbers change. [https://stockleo.com/leveraged-etf-decay-calculator](https://stockleo.com/leveraged-etf-decay-calculator)

Ok_Freedom3290

It’s going to do both, but at different times. Spot ETF options will introduce Dealer Gamma loops (GEX) to Bitcoin, which means market makers will be forced to buy dips and sell rallies to remain delta-neutral, dampening daily volatility. However, during option expiration weeks (OPEX), we'll see heavy pinning effects and sudden volatility spikes near maximum pain strikes as institutions rebalance their books. I actually track these institutional flows and GEX levels on a dashboard I built called [AlphaSignal](https://alphasignal.digital/). Seeing the option hedging walls helps you understand why price suddenly stalls at certain levels even with heavy spot buying pressure.

dormango

No. BlackRock manages a BTC ETF. It is not BlackRock money that owns that ETF.

FishermanNew4171

That doesn’t make sense. If the ETF’s are selling btc then it should show a negative daily flow but it has been positive for like 9 months. Not accepting this as the answer, sorry! 

Patient_Craft2195

You're asking the right question and your BTC dominance observation is the genuine tell. Current data confirms it's chop, not accumulation: * ETH/BTC at 0.0283 (10-month low) * BTC.D still at 56% — hasn't peaked, no rotation possible * ETH ETFs on a record 17-day outflow streak * BTC ETFs also bleeding (13-day streak, $4.3B out) This is broad risk-off where ETH is the higher-beta loser, not the start of rotation. Real question for you: what's your conviction trigger? Because "Glamsterdam pumps ETH" and "ETF flows flip after Glamsterdam" are very different bets with very different sizing. Knowing which one you're playing changes the trade.

Big-Finding2976

Have you considered joining stock/ETF investing subs instead of crypto subs?

ObviousEconomist

Demand can also continue to crash. Plus it's been a horrific year this year despite all the positive headwinds like increasing regulatory clarity, BlackRock ETF, US Treasury, etc. Bitcoin hasn't acted like the inflation hedge that it was supposed to. It's conceivable people just give up on it as a serious investment. 

Physical-Title-9442

Hahaha btc hasnt fully capitulated. Almost all ETF holders are in the red. Another red week to 53k this month

BrokenHefaistos

the bottom is there when the institutional pockets are full and the place is so devastated it can only go up. ( which is a great way to sell ETF's )

Western-Source710

ETF outflows, so retail

Kitchen-Ad-9531

Not in crypto. In 10 years eth you be worth 1k. Hold crypto that long is not smart. Again you should be looking for 1x-3x returns. Especially from cryptocurrency. If you're looking for compound growth and dividends invest in ETF like SCHD, voo, spid(monthly dividends)

Legitimate-Net-7744

ETF buyers (investors/wallet street) needs cach for SpaceX and openAI IPOs. Big sell off happened. This ride down might stabilize or continue for 2 more months

Ok-Swan-98

Why is bitcoin up ? **CMC AI** [Bitcoin price today, BTC to USD live price, marketcap and chart | CoinMarketCap](https://coinmarketcap.com/currencies/bitcoin/) "## TLDRBitcoin is up 3.88% to $63,156.82 in 24h, closely tracking a 3.85% rise in the total crypto market cap, primarily driven by a short squeeze that forced bearish traders to cover positions. 1. \*\*Primary reason:\*\* **A short squeeze amplified the rebound,** with $122.11M in Bitcoin liquidations over 24 hours and negative funding rates indicating crowded bearish bets. 2. \*\*Secondary reasons:\*\* A broad market recovery from oversold conditions, as the entire crypto market rebounded after a brutal selloff that pushed BTC below $60,000 on June 7. 3. \*\*Near-term market outlook:\*\* If BTC holds above the 61.8% Fibonacci retracement at $61,820, it could test resistance at $63,246; a break below risks a retest of the $60,000 support zone. \## Deep Dive### 1. Short Squeeze and Leverage Unwind \*\*Overview:\*\* The rally was intensified by a short squeeze, where rising prices forced traders with bearish leveraged positions to buy back. Bitcoin saw $122.11M in liquidations over 24 hours, a 52.8% increase from the prior day, with a negative average funding rate signaling excessive short-side leverage. \*\*What it means:\*\* The move was fueled by forced buying, not just organic demand, making it prone to volatility if this leveraged fuel is exhausted. \*\*Watch for:\*\* Shifts in the aggregated funding rate toward positive territory, which would indicate reducing squeeze pressure. \### 2. Broad Market Rebound from Oversold Levels \*\*Overview:\*\* Bitcoin's gain mirrored a 3.85% rise in total crypto market cap, indicating a beta-driven recovery. The move follows a severe selloff where BTC dropped below $60,000 for the first time since late 2024, creating oversold conditions that invited buying. \*\*What it means:\*\* The bounce is part of a market-wide relief rally after a steep decline, lacking a single new catalyst. \*\*Watch for:\*\* Sustained volume growth to confirm the rebound's strength beyond short-term covering. \### 3. Near-term Market Outlook \*\*Overview:\*\* The immediate path hinges on key technical levels. Resistance is at the 23.6% Fibonacci level of $63,246. Support is at the 61.8% level of $61,820. A daily close above $63,246 could target the recent swing high near $64,128. However, with the Fear & Greed Index at 15 ("Extreme Fear"), sentiment remains fragile. \*\*What it means:\*\* The market is in a tentative recovery phase, needing to reclaim higher levels to signal a more durable reversal. \*\*Watch for:\*\* Bitcoin's reaction at the $63,246 resistance and whether spot trading volume expands on any further upside. \## Conclusion \*\*Market Outlook: Cautiously Constructive\*\* The bounce is a technical recovery amplified by a derivatives squeeze, but it lacks a fundamental catalyst. For the move to extend, Bitcoin needs to conquer nearby resistance with stronger spot participation. \*\*Key watch:\*\* Can BTC achieve a daily close above $63,246, and will spot ETF flows turn positive to support the next leg?"

SleeperAgentM

> etf Just in time for SpaceX, OpenAI and Anthropic to finally erode ETF investing?

No-Ladder-506

The ETF outflows are mostly just people playing the weekly volatility game. If you look at the long term liquidity cycles, we are nowhere near the top yet.

BigvalBROski

Have $4500 more to max out my RothIra…. May buy Bitcoin ETF. Cheers

sgemma

You have to take into account the law of diminishing returns: **2013 Peak:** Rose roughly 38 × from 2011 lows. **2017 Peak:** Rose roughly 16 × from 2013 levels. **2021 Peak:** Rose roughly 3 × from 2017 levels. **2025 Peak:** Reached over $126,000, which was less than 2 × the 2021 peak. \[[1](https://www.coindesk.com/markets/2026/04/01/bitcoin-s-old-peaks-aren-t-untouchable-anymore-and-the-days-of-parabolic-rallies-could-be-over)\] With that comes diminished bear market draw downs: **2011 Crash:** Peak-to-trough decline of roughly 91%. **2014 Bear Market:** Value dropped by approximately 85%. **2018 Bear Market:** Peak-to-trough decline of about 84%. **2022 Bear Market:** Corrected by approximately 77%. Right now we’re at about a 56% drawdown at the low of 59k, so to me a correction of 65-70% still seems likely, which would put this bear market low around 38-40k, but its so hard to say what this cycles low will be because of the maturing nature of the asset class, ETF money inflowing and so many corporations with bitcoin in their assets, it seems possible 50k could be the low. Either way we’re close enough to the bottom now that I have no problem increasing my buys, this is a great price to buy whether we are at the bottom or still 20% away won’t matter in 4 years all of these buys will be quite profitable, as has every bitcoin purchase i’ve made.

MNBullonparade

And that’s why you have massive selling pressure from ETF’s. It was never suppose to be part of the larger financial institution.

ZachF8119

The richest made companies like micro strategy and when it was ETF ified it’s harder to not call it an asset, but digital gold scarcity is all code. Might as well be a gold/plat maxi at that point.

CODE_HEIST

I’d separate forced selling from thesis damage. ETF outflows and liquidation cascades can create mechanical pressure, but structure only improves when price stops accepting lower levels. Until then oversold can stay oversold.

cvsisi

I’m extremely bullish on crypto in general but I don’t see ai interest disappearing anytime soon. I think a lot of ETF outflow is people gearing up for these upcoming IPOs

Rickard403

Why didn't BTC break the 4yr cycle pattern this time around? Seemed like this should've been the time it happened, based on institutional investing, ETF's, etc. If it still happened this time, what's stopping it from happening next time? Much of the same market behavior is still in play. BTC is still volatile, a little less so than in the beginning sure, but it's still volatile.

Patient-Process-2565

Nobody knows, this could be the bottom or it might collapse to 10k. It’s a gamble that only you can decide. Remember that only LONG term holders win or those that trade the lows and highs. Best of luck. If you can’t stomach volatility I suggest you avoid BTC and go for a more stable ETF STICK

Ok_Freedom3290

I am the builder of [alphasignal.digital](http://alphasignal.digital), and our database shows strong evidence supporting your bottom thesis. If you map out the volume profile over the last year, the 50k to 60k range is the heaviest cluster of High Volume Nodes and includes the primary Point of Control, representing a massive structural floor. We track limit order book wall defense and ETF flows, showing that smart money is actively bidding this zone. You can see our live order book heatmaps and volume profile models at [https://alphasignal.digital](https://alphasignal.digital/).

GridLocks

\>If you had invested in an S&P500 ETF instead during that same timeframe you would be in great profits today, This only applies for people that would have invested exclusively around november 2021, but nobody does that so what's the point. Anyone just regularly investing since 2021 is up significantly more on bitcoin than on the s&p500.

Turbulent-Peace-8772

on the SOL ETF divergence: a single week of flows is rounding error against the rotation thesis. smart money or sticky mandate-bound rebalances both fit the same data. not enough to call yet what's more readable in real time imo is whale positioning on the prediction markets themselves. when ETH "70% to deeper leg down" prices, who's actually taking the YES side at that level matters. if it's wallets that have been right on recent crypto moves, that's signal. if it's retail piling on after the fact, noise

Jayar9000

Even when the main reason for the current drop is institutional buyers rotating out of BTC ETF? Those are the ones that will gain the most on these biggliest IPO's

Dramatic-Piano-581

If if if. If you invessten in the most safe ETF, you would easily doble it... Investing in Nvidia? If only... few.

hoenndex

This really makes crypto look terrible lmao. If you had invested in an S&P500 ETF instead during that same timeframe you would be in great profits today, and if you invested in NVIDIA, MU, or Google stocks you would be in 1000%, 900%, and 190% profit today, respectively. 

broardmoor

I’m thinking the cycle might be slightly shorter this time because of the institutional investment and ETF’s.

riscten

The tiers of Bitcoin hodling: S - 2-of-3 multisig with metal-stamped mnemonics distributed geographically; mnemonics generated and transactions signed from an airgapped system A - singlesig + passphrase with metal stamped mnemonic; mnemonics generated and transactions signed from an airgapped system B - ETF C - Singlesig on clean phone (latest update, no shady apps) hot wallet, with paper mnemonic backup D - Lightning/Liquid wallet E - Wrapped in a shitcoin token F - Centralized exchange

FlipFlopHiker

Same here. I had to liquidate my coinbase account a few months ago because I've been out of my tech job because of AI the last year. I did buy some BTC ETF in my retirement account though. I hear crypto is the first thing people are going to sell when they are strapped for cash.

Illustrious-Boss9356

How do you store/use your BTC? On an exchange? Via an ETF? On a hardware wallet?

Mix_Right

Who holds the biggest stacks Satoshi Nakamoto: \~1,100,000 BTC Coinbase⁠ (customer custody): \~885,000-980,000 BTC Strategy⁠: \~844,000 BTC BlackRock IBIT ETF⁠: \~765,000-785,000 BTC Binance⁠ (customer custody): \~629,000-660,000 BTC Fidelity FBTC ETF⁠: \~470,000 BTC United States Government: \~328,000 BTC China Government: \~194,000 BTC Tether⁠: \~96,000 BTC MARA Holdings⁠: \~35,000 BTC Pretty sure they know what they are doing. Now, of course Jane Street may enter the picture. Do some high frequency trading pump and dump the prices at 10 AM every morning get things nice and low. Buy it up and ride the tide back up. Rinse and repeat

Easymacsauce

But look what BTC has today compared to then. ETF and BTC backed loans just to name a few.

devCheckingIn

It's all about Saylor right now (and to a lesser extent, the SpaceX IPO on Friday 6/12). The market needs to know what his plans are to cover these dividend obligations. If he's going to be a constant source of selling pressure week after week, then we're going down. Hell he's about the only one that was keeping us afloat for the first half of 2026. Or at the least we need to see ETF outflows stabilize. Don't forget we're still "printing" 450 new Bitcoins every day.

HorsedickGoldstein

Why IBIT over like FBTC? Doesn’t IBIT track futures prices and not a spot ETF?

Dosordie76

Just do ETF and chill M8 😁

shoecellar

Follow this up in reverse for sell time. Also watch closely to the ETF capital rotation. ETH already went back positive inflow

TheresNoSecondBest

Congrats on the move, it's never too late, [despite new people thinking otherwise](https://old.reddit.com/r/Bitcoin/comments/rskpuf/i_have_only_600_bitcoinsi_missed_the_bus/). ONLY INVEST MONEY YOU CAN AFFORD TO LOSE. Invest in your knowledge, learn about Bitcoin as much as you can. The Bitcoin Standard book is a must read. So is Broken Money by Lyn Alden. Also, **don't reply any DMs**, emails, private messages on other social media, promising to buy Bitcoin from them or get rich quick by investing into some website. They all are scammers. Even the hot Asian chick, he's a scammer too. **Price wise, nobody knows what the price will be tomorrow, next week or at the end of the year.** **Try "Bitcoin ONLY" strategy for at least the first 210,000 block cycle**, you'll sleep much better. Newcomers lose so much money, holding tokens just because someone on YT told them to. If you don't like losing money in [failed coins](https://www.coingecko.com/research/publications/how-many-cryptocurrencies-failed), avoid. DCA is probably the best approach. Once a week works best for me, but I'm getting paid weekly. This [DCA calculator](https://21vox.com/dca-calculator) might help to decide what will work best for you. In a few years, even $10 dollars a month can make a massive difference. This [DCA blog](https://er-bybitcoin.com/) is pretty interesting too and compares buying bitcoin VS stocks. Now, don't buy some fake bitcoin at a spot ETF place or similar, **get the real thing** that you can withdraw anytime you want. Register at a proper exchange and buy real Bitcoin. Any of these will do [https://bitcoin-only.com/get-bitcoin](https://bitcoin-only.com/get-bitcoin) Install (or buy - in case you're getting Bitcoin in Thousands of $) one or more of these wallets. **A few good wallet choices:** [https://blockstream.com/app/](https://blockstream.com/app/) \- Top Security Features, Open Source and Non-Custodial [https://bluewallet.io](https://bluewallet.io/) \- excellent, easy to use wallet, Open Source and Non-Custodial [https://www.sparrowwallet.com](https://www.sparrowwallet.com) - top desktop wallet [https://electrum.org](https://electrum.org/) \- Solid choice, Open Source and Non-Custodial, one of the oldest and most trusted Bitcoin Wallets. I prefer the desktop version but it works on mobile too. **Lightning wallets** to consider (cheaper and faster transactions, great for small amounts): [https://phoenix.acinq.co/](https://phoenix.acinq.co/) \- Phoenix - very good wallet, uses Tor for extra privacy, easy for anyone new [https://blixtwallet.github.io/](https://blixtwallet.github.io/) \- Blixt - great UI, fast and clean. The app runs a full LND node on your phone and you have the ability to easily open channels to whatever nodes you like. [https://zeusln.com/](https://zeusln.com/) Zeus - impressive wallet with many features, can even generate Nostr keys [https://breez.technology](https://breez.technology/) \- Breez - excellent POS for small business owners as well as integrated Bitrefill Note: Breez does also a hybrid liquid/LN wallet called Misty Breez - the sats being on liquid means no need for channels although the payments take a few extra seconds. You'll also can get a free customable LN address. While talking about hybrid wallets, there's also Aqua Wallet although not IMHO as good as Misty Breez. There are also custodial LN wallet but I would honestly avoid using them because you have to trust the wallet operator not to steal your money. Their only advantage is that they are incredibly easy to use, although it might cost you big one day. To keep up to date with spending wallets, visit r/TheLightningNetwork at least once a while and perhaps r/RGB in the future. **Hardware Wallets** (to store larger amounts): [Trezor](https://trezor.io/) \- Easy to use, no matter how new in Bitcoin you're. If you can afford it, opt for Safe 7 (air-gapped) and use the Bitcoin only firmware as it's safer than a multi coin software. [ColdCard](https://coldcardwallet.com/) - air gapped, Bitcoin only, has advanced features but a new user will do fine with one of the great tutorials available. [BitBox02](https://bitbox.swiss/bitbox02/bitcoin-only/) - another great little device, opt for the more secure Bitcoin ONLY version (less coins = less code = less chance for a hidden bug or a backdoor). Sadly, this device is not air-gapped. [Jade](https://blockstream.com/jade) - air gapped, fully open source, Bitcoin only, great features. There's a newer version called Jade Plus, it has much better camera and overall is a better, although a bit more expensive, option. You can even [build it on your own](https://github.com/Blockstream/jade/), if you feel adventurous. [Seedsigner](https://github.com/SeedSigner/seedsigner) - another DIY, fully open source, air gapped, Bitcoin only hardware wallet, not for you if you're just starting up but something to consider later. [Krux wallet](https://selfcustody.github.io/krux/) - one more DIY hardware device, I love this one for many reasons. Similar to Seedsigner, it's fully open source, air gapped, Bitcoin only hardware wallet, that is not for you right now if you're just starting up, but something to consider at a later stage and/or to up the security of your bitcoin. There's also Ledger, but I wouldn't recommend it as it's not fully open source, keep and already leaked customers' details, recently said they're capable of sending customers' keys out just with a firmware update, making is an expensive hot wallet. The opposite of what you want from a cold wallet. **Stay away**, save yourself a headache in the future. The same goes for many other hardware wallets that are too new or filled with too much of unnecessary shitcoin code. Stay away. Whatever wallet you'll decide to buy, purchase DIRECTLY from the manufacturer, no eBay, no Amazon. Make sure the device is NOT preset, and you will generate your own seed words. Write them down on any piece of paper as well as the receiving address. Now wipe the wallet and generate a new wallet. If the seed words are different from the first set, you're safe to use it. Find an option to set a passphrase and use it. This will boost the security to another level. Never store the seed words and passphrase together. Use a different medium if possible. If somebody finds both, they'll be able to steal your coin. This little device will hold the keys to your money, that's the reason why you have to be a bit more careful. Also, no worries, if it breaks, you can replace it - as long as you keep your seed words and passphrase(s) safe. Welcome to the rabbit hole and don't hesitate to ask if you have any questions anytime during your Bitcoin journey. Also, [check the sidebar](https://www.reddit.com/r/Bitcoin/about) that's filled with lots of great info and if you have any questions, visit r/BitcoinBeginners or r/Bitcoin and look for the answers.

SimpleMoonFarmer

Out of BTC, any crypto may never reach ATH again. ETH is the most likely IMHO, but it may go to zero (it's possible), and so it may any other crypto, with a greater likelihood. TBH, as an investment, a Blockchain-related ETF looks better than any shitcoin, and it is a matter of opinion if Solana or Polygon are shitcoins. Paradoxically, I see more potential resilience in CEX coins (BNB, CRO,…) than in most shitcoins, just like I see more upside in Coinbase than in Solana, Polygon, Dogecoin,… The tech will stay. Incumbent companies will probably stay. Specific implementations (blockchains) and coins,… time will tell.

Mitthunder

The foundation at 50-55K is super strong, it is a time to buy, not to sell. The conviction comes from the new ETF´s and the whales have loads of orders down there.

Dependent_Swimming81

you think blackrock and vanguard would be setting up crypto ETF if this whole thing is a fad

Live_Jazz

Right, it has become a self-fulfilling prophecy. The supply reduction from the halving as a percent of the mined supply is quite low now, but people respect the trend. Institutions mostly means “Saylor and people buying ETF’s”, and I’m not sure if that blunts or augments the market, but no matter how you slice it, cycles are evolving but basically intact until further notice.

Ricola63

I personally think ETH is done. I am out of step with many -I know that but I will share my opinion here. I think ETH grew on the back of the fact it had little serious competition. But it is, undeniably, Structurally and Technically full of flaws and those flaws are being increasingly exposed... I mean.. What Network is ETH anyway? Optimism? Polygon? or... take your pick. Each with their own rules, standards and biases. My background is in technology and when I look at ETH it is blatantly technically riddled with issues that make it practically unusable by the vast majority of businesses for serious use cases. And these L2\`s are there as band aids to cover those problems up, BUT THEY DO NOT FIX THEM and that is becoming increasingly problematic. . Yes, yes. I know. ETH has significant Enterprise use, but IMO that is due to community size, brand recognition and frankly many years of relatively poor options. All that has changed and when regulation arrives that is going to become increasingly obvious. It actually sickens me to see the Blackrocks and Fidelities of this world jumping on the band wagon and pumping ETH ETF\`s to the market when such deep flaws are totally apparent to anyone who spends a little time researching. IMO, five years from now neither Blackrock nor Fidelity will be using ETH.... Perhaps I should not be surprised.

BitcoinMD

If I were just starting out, I’d buy the NCIQ ETF and nothing else. It’s about 70% bitcoin and rest is the biggest alts. But it and never have to think about coins again. Money is divisible, so any time you find yourself asking an “or” question, just do both. Bitcoin or alt coins? Yes.

Quick-Nobody5800

I have a question why are u commenting so much hate like u are just sitting at home scrolling through r/cryptocurrency and u say I can comment here that “erm, actually crypto is a scam invest in ETF’s so you get 5% returns” who tf are you to judge others man if u like your ETF’s so much just go sleep with them and leave us alone. We do not care about you defending your ego cause you missed out on a bull market and now you can’t move out of mommy’s basement.

shy9691

Interesting perspective. Long-term models like stock-to-flow or Metcalfe’s law are useful for framing potential upside, but they don’t really explain short-term price action. Right now the sell-off seems more tied to liquidity, leverage unwind and macro conditions (rates, ETF flows etc.). Long-term and short-term narratives can both be true, but they don’t always align in timing.

zesushv

It was easier back then than it is now, little to no social media pressure, no big names. Now everyone wants to be right, pointing fingers, ETF Outflows, Saylor selling making headlines and whatnots.

ClearSnakewood

This is why people need to run these exchanges dry and withdraw r free everything into cold storage. And if you’re holding ETF, redeem for real coin and withdraw too. Stop letting them cook the books.

PandaShake

News can still affect volatility like the ETF hype, past cycles had various lower lows or higher lows during the bear too. It hit ath before halving, but the final ath was still q4 post halving year. It's not about exactly the same chart, but the overall trend.

2_kewl_for_my_mule

But what's the point of holding crypto when markets are at ATH and Crypto is down 60%+. Like why go through the process of holding "these cycles" when a less risky ETF performs better?

Miamiconnectionexo

none of that means eth is dead. staking yield, the ETF bid, and any L1 fee-market reform could re-rate it fast. but the 1550 meme is really a story about eth/btc and broken token economics, not about eth "doing nothing." watch the ratio and the burn rate, not the round usd number.

inphenite

ETF outflows became inflows today. Just thought that was worth mentioning.

lechiffre-wells

pretty much that. You can get more ROI in AI/tech then if you stay in BTC. When that well starts to dry up, and it will sometime, people will be looking for investment vehicles with high ROI and see BTC is >50% off its ATH? Yea, they'll buy in. ETF's? Market Makers? This administration wanting a strategic BTC reserve? It may keep going down but it's not going anywhere. Just start slowly DCA'ing in when you think the time is right.

Prnce_Chrmin

> Michael Saylor selling only “32” BTC has caused all this / Domino effect No he has not. We still dont even seem to know who has been selling this week, other than ETF outflows. Thats more so related to people wanting in on the ai boom or maybe the new IPOs. It could be Saylor sold a lot more this week which we will only know on monday, so that could still have been him. But its not those 32 bitcoin.

FnAardvark

Leveraged ETFs will not 2x your gains on the way back up because of volatility drag. The more volitile the asset, the more drag. As a matter of fact, if you buy and hold a leveraged ETF, you can make less than just buying and holding bitcoin. Leveraged ETFs are for short term directional bets. If I wanted to make a leveraged BTC play (which I don't) I'd buy ASST or MSTR. ASST being further out on the risk curve and higher upside potential.

Consistent-Heart2949

Ok my question in all of this. People keep talking about the next cycle as if it is inevitable BTC goes up again. In order for that to happen there needs to be an influx of new buyers. You have had enthusiasts, then retail, then institutions and then ETF flow. Where is the next big pot of money coming from to drive another potential high?

Excellent-Storm-5201

BTC sitting right around $60,750 and the 4-hour RSI is hitting extreme oversold levels at 15.4. Historically, the last time we saw readings this deeply oversold was during the capitulation phases of the FTX crash. While oversold conditions can certainly grind lower and stay extended if the daily ETF net outflows continue ($4.4B out in 13 days), historical data suggests these levels typically precede sharp, violent relief bounces due to shorts getting overcrowded. Key levels to watch right now: $60K acts as the major psychological and technical floor. A clean break below that opens the door straight to the $55K support cluster. On the flip side, any sudden reversal in ETF inflows could trigger a massive short squeeze given the current -22.8% OI drop and negative funding rates. Not financial advice, just watching the technicals and data points closely.

dj_destroyer

No, that's a good point. An ETF/index is safer because it can mitigate risk much better than picking individual stocks. In the long run, I still think BTC is a better investment but obviously you have to accept the volatility and have a long time horizon.

devCheckingIn

There's been underlying weakness for awhile now (hence, bear market) and the ETF buying dried up (leaving only Saylor), then ETFs slowly started to unload, then... Saylor made a genius move and took $1.5bn of cash reserves -- which was ear-marked to pay dividends on STRC -- and used it to pay off debt that wasn't due until 2029. When everyone asked, "Uhh... what gives? How are you going to pay your dividends now?" Saylor basically said, "Ehh, we'll just sell our Bitcoin!" That took a weak market that was barely hanging on and threw it off a cliff.

devCheckingIn

I should've gotten into that Inverse ETF yesterday, but I wussed out.

Excellent-Storm-5201

BTC hitting $60,745 today with RSI at 15.4 — last time we saw readings this low was during the FTX crash. Historically these levels precede sharp relief bounces, but oversold can stay oversold while ETF outflows continue ($4.4B out in 13 days). Key levels to watch: $60K as major floor, break below opens $55K. On the flip side, any ETF inflow reversal could trigger a violent squeeze given the -22.8% OI drop and negative funding rate. Not financial advice, just watching the technicals closely.

ClearSnakewood

Run the exchanges and the ETF’s. Let’s see if they all hold what they claim.

radiant_0wl

Strategy sold some BTC which conflicts with a lot of people's "never sell" ethos (bizarre imo). Stategy also pays a 11.5% dividend so it's likely they'll need to sell more, and cut the divy. There's been an outflow funds away from crypto ETF's too which may force others to sell. Their shares are also trading at a discount to their Net Asset Value, so it's more effective for buyers to purchase shares than the actual coins themselves.

champing_at_the_bit

It's not a coin, its a stock. Lookup what an ETF is

IInsulince

IBIT is an IOU. If you can only buy it through a 401k that doesn’t let you buy bitcoin direct, then fine, at least you get price exposure and such. But if you have free standing dollars to invest, you should absolutely buy the bitcoin itself, not an ETF that a custodian may or may not honor in the future. Yea, yea, yea, “What are you, a conspiracy theorist? Of course custodian XYZ is trustworthy, they will honor my database entry that says I’m owed what’s on my IOUs.” This is what everyone who has ever suffered the consequences of counterparty risk has said shortly before the rug is ripped out from under them. Every custodian is trustworthy until they aren’t. Every single custodian that turned out untrustworthy WAS trustworthy when you first bought. This is by definition, you wouldn’t have bought from them if they didn’t originally appear trustworthy.

colemusic1

Definitely. Although truthfully we honestly don’t even know where the bottom really could be, but I do seriously doubt we’re ever going to see $20k. TBH a lot of the downside volatility has been cushioned since IBIT and any other BTC-based ETF’s have been out, although there’s been something like $3B - $4B in outflows from them alone the last 1-2 weeks which is kind of enormous even if it doesn’t sound like much. But yeah, instead of -80% or -90% insane drawdowns, it should (hopefully) mean the bottom is a lot less low compared to previous cycles, we just don’t really have enough data on how cycles have performed **since BTC has been institutionalised.** That’s the real hard part tbh, I guess we’ll just have to wait and see 😂

colemusic1

A “trust me bro” wave? Mate, these are multi-billion dollar companies that: - have real customers - earn real revenue - earn real cash flows - have a genuine serious demand for it with a supply shock happening, hence the boom - NVDA is the biggest company in the entire world. It is the highest weighting in S&P500, BGBL, NASDAQ, SMH, basically every ETF out there. That’s not a “trust me bro” company, that’s a company with genuine demand due to being a high growth tech stock And, It’s not about being biased. I’m actually neutral about everything. I’m just one that follows finance, follows macro, gets to a deeper understanding of *why certain things are moving.* That’s not a “trust me bro” wave, it’s a genuine need for what these tech stocks / ETF’s have for the world. One could argue that crypto is speculative since almost all tokens don’t actually… earn any revenue. That doesn’t mean it’s a “trust me bro” asset class either, it just means it’s different. I’m invested in crypto, semi stocks, ETF’s, basically full diversification. But it’s completely silly to say that something is speculative when we have a semiconductor stock which is that of NVDA that is the biggest company in the literal world.

UpperMine19

I see. Thoughts on just holding the ETF for simplicity, for a noob?

RC-5

No, I have actual BTC too. Just wanted additional exposure to be tax free, so I added some ETF funds.

Electronic-Rate5497

To fund their BTC ETF Nothing to do with him selling for personal gain

LargeSnorlax

50kish was always my guess too, unless there's some sort of black swan event like Saylor fucking off for good. That's around the range of the original ETF formation. I'm honestly not even too interested at that level either.

Laukess

ETF outflows? [https://farside.co.uk/btc/](https://farside.co.uk/btc/) Looks like they have incredibly strong hands.

ClearSnakewood

Saylor does not custody his coin, therefore he doesn’t own it (NYKNYC) Conbase does. And who knows what type of shady shit they’re doing with other people’s coin. I wouldn’t be surprised at all if fractional reserving it, just like FTX. And I think these ETF’s are shady players too. Self custody needs to be emphasized waaay more.

ClearSnakewood

Run the exchanges. NOW! Real time audit. Withdraw to cold storage. ASAP! Let’s see if they’re all holding what they claim. ETF’s and Strategy included.