Tue, April 16, 2024 at 18:47

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    Joy

    • Hey Annie!

    • Got some hot news for ya.

    • You know Bitcoin, right?

    • Well, there's been a surge in the number of newly created Bitcoin whales.

    • They're holding a record amount of BTC, almost controlling 9% of the total supply!๐Ÿ˜ฒ

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  • Annie

    • Wow, really?

    • That's a lot of Bitcoins!

    • So, who are these whales exactly?๐Ÿค”

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  • ์ธ๋„ค์ผ

    Joy

    • Good question!

    • These whales are short-term holders who've been holding their coins for less than 155 days.

    • They now hold 9% of the circulating supply, which is about 1.8 million BTC.

    • That's a lot of dough, right?๐Ÿ’ฐ

  • Annie

    • That's insane!

    • But what about Bitcoin ETFs?

    • I've heard there's been a lull in demand for them.๐Ÿ“‰

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  • ADward

    • Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... ๐Ÿ˜…

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  • ์ธ๋„ค์ผ

    Joy

    • Yeah, you're right.

    • Despite the stagnation in Bitcoin ETF demand for about 4 weeks now, on-chain accumulation of BTC is still very active.

    • It's like the party never stopped!๐ŸŽ‰

  • Annie

    • Hmm, interesting...

    • But why are there zero flows in many ETFs?

    • ์ธ๋„ค์ผ
    • Is that normal?๐Ÿง

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  • ์ธ๋„ค์ผ

    Joy

    • Ah, good catch!

    • According to Bloomberg ETF expert James Seyffart, it's pretty standard for many ETFs to have zero flows on any given day.

    • Shares of the product will only be created if there's a mismatch in supply and demand.

    • It's all about balance, you see.

    • โš–๏ธ

  • Annie

    • I see...

    • So, these creation units, they're the lots that ETF shares are created and redeemed in, right?๐Ÿ“Š

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  • ์ธ๋„ค์ผ

    Joy

    • Bingo!

    • You got it, Annie.

    • In the case of spot Bitcoin ETFs, they're blocks of shares ranging from 5,000 shares to 50,000 shares.

    • A creation or redemption will only happen if there's a large enough mismatch in supply and demand.

    • It's all about finding that sweet spot!๐ŸŽฏ

  • Annie

    • Got it!

    • So, how's Bitcoin doing now?๐Ÿ’น

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  • ์ธ๋„ค์ผ

    Joy

    • At the time of writing, Bitcoin is trading at $61,904.

    • It's correcting from nearly $74,000.

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    • Quite a rollercoaster ride, huh?๐ŸŽข

  • Annie

    • Definitely!

    • So, is this news good or bad for the market?๐Ÿ“ˆ๐Ÿ“‰

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  • ์ธ๋„ค์ผ

    Joy

    • Well, it's a bit of a mixed bag.

    • On one hand, the rise of new Bitcoin whales could indicate a strong demand for Bitcoin.

    • But on the other hand, the stagnation in Bitcoin ETF demand could be seen as a negative sign.

    • ์ธ๋„ค์ผ
    • As always with investments, there's a bit of risk involved.๐Ÿ˜…

    • To sum up, this article is considered a ๐Ÿ˜ฑBearish for investors!!