Call Overwriters Dominate ETH Flows
Bitcoin’s market has shown choppy moves 3 weeks following ETF introductions, struggling to establish a bullish footing. Attempts to surpass the $45,000 resistance or maintain a value sub $40,000 support have repeatedly failed.
Digesting the GBTC Overhang
The Bitcoin market continues to show resilience, recovering from the initial sell-the-news drawdown following ETF approvals. In particular, the market is working through the significant supply overhead created by investors rebalancing capital out of the GBTC product since its conversion.
Crypto's Requiem
The ETF approval of Bitcoin is acting like an opioid on the crypto market.
It came onto the scene, flooded our brains with endorphins…
And now many are realizing the unsettling nature or the “yang” of the ETF approval’s “ying” moment. The ying and yang effect… Every day has darkness… Or the hangover to every high.
