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Well you also want to factor the amount of BTC that arrives in the exchanges from the mining pools that are really high now… i check it everyday on glassnode… when that suply crunch will arrive the pressure will change side… I am still bearish on the short term because of all these facts, then trading sideways for a few month and then, to the moon when the halving effect kicks in ( around the end of 2024)
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I think this is a good possibility
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So is it retail that is causing the dump in price?
What I don’t understand is that the ETFs are seeing net inflows even with the outflows from GBTC, so this should be positive for price, no?