BTC Supply Shock (ETF & ETN)
- London Stock Exchange to launch crypto ETNs on May 28, MAR 25, 2024
- Bitcoin has 6 months until ETF ‘liquidity crisis’ — New analysis, MAR 12, 2024
Bitcoin has 6 months until ETF ‘liquidity crisis’ — New analysis
Bitcoin ETF - Most Successful ETF Launch in History
Now holding nearly $30 billion, United States-based spot Bitcoin exchange-traded funds (ETFs) have become the most successful ETF launch in history.
“Bears can’t win this game until spot Bitcoin ETF inflow stops.”
ETFs alone put away more than 30,000 BTC last week, and with 3 million BTC in exchange and miner wallets, the odds of a supply-induced price shock become clear.
Limited Sell-side Liquidity and Thin Orderbook
“Last week, spot ETFs saw netflows of +30K BTC. Known entities like exchanges and miners hold around 3M BTC, including 1.5M BTC by US entities.”
“At this rate, we’ll see a sell-side liquidity crisis within 6 months.”
When the tipping point from ETF demand comes, Ki forecasts the BTC price impact may be beyond market expectations.
“Once a sell-side liquidity crisis happens, its next cyclical top may exceed our expectations due to limited sell-side liquidity and thin orderbook,”
Accumulation Addresses
an ongoing broad uptrend in BTC held by so-called “accumulation addresses” — wallets with only inbound transactions — with this still needing to double before the “crisis” sets in.
