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The reason behind the price dumping of #Bitcoin after #ETF approval could be the liquidation of positions by #Grayscale holders. Grayscale Investments, a digital asset management firm, holds a significant amount of #BTC through its Grayscale Bitcoin #Trust (#GBTC). The approval of an ETFs might prompt some of these holders to #sell their GBTC shares and convert them into Bitcoin ETFs, thereby causing an increase in the supply of Bitcoin on #exchanges. This sudden influx of supply could potentially lead to a decline in the Bitcoin price due to increased selling pressure, resulting in the dumping of Bitcoin's #price after ETF approval. #Decentralized #DeFi β οΈ Download #Bitget #Wallet β οΈ Import #BNB #ETH #MATIC TRX β οΈ #eXchange for @DGRCoin β οΈ #Stake #DGR/#TRX for #Crypto #Rewards #bitcoinmillionaires #bitcoinsallday #Stellar #metaversenft #node #cronos #bitcoinexchange #nftu #cryptocoins #digitalprint #digitalmarketer #block
Duration: 57 sPosted : Sun, 14 Jan 2024 21:39:30Views
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