Data: The speed at which ETF issuers purchase Bitcoin has reached 20 times the speed of mining output
Jinse reported that according to analyst Shaun Edmondson, Bitcoin ETF issuers purchased more than 9,000 BTC on Friday, January 3, and bought more than 9,600 BTC on Monday. Since the Bitcoin ETF was first approved, all 12 issuers have become large holdings in the industry. In October, they purchased an amount of BTC equivalent to 5 times global mining production. This number is now more than 20 times, and analysts believe that it is bearish. Market signals only lead to greater buying.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Analysis: Wall Street Is Not Yet Ready to Short AI in Large Numbers
Overseas capital is aggressively buying US stocks! Net inflows reached $942 billions over the past 12 months, marking a record since 1985.
According to data from the US Department of the Treasury, in the 12 months ending July this year, overseas investors made net purchases of US stocks totaling $942 billion, marking the highest rolling 12-month total since records began in 1985. The net purchases in the second quarter alone reached $426 billion, setting a new single-quarter record. Meanwhile, overseas demand for US Treasuries has noticeably cooled, with purchase volumes falling significantly. As a result, the US is facing higher costs in government debt financing.
RootData: BIO will unlock tokens worth about $1 million in one week
Crypto prices
More
