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Also looks lile FTX had a major role in lately price movement by dumping $1B worth of GBTC…
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GBTC probably has a major impact on the trend. Wondering at what price the big players will think the discount will be enough the reverse the momentum… you already retraced 50% . I guess the next level to look at will be 62% and $34.2k … it s big gap…
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Cheaper sats!
Unless a majority of economic actors decided to go against their self interest, I'd say Bitcoin's fundamentals still look sound and this sell pressure is most likely coming from GBTC exits