Bitcoin ETF

Bitcoin

Reserve

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
Gold bug Peter Schiff keeps riling up Bitcoiners amid the ongoing price crash. This time, the controversial market commentator took <a href="https://twitter.com/PeterSchiff/status/1770227134985895971">another jab</a> at struggling Bitcoin ETF offerings, arguing that their buyers have to "watch helplessly" without being able to exit the market.&nbsp;
<h2 id="trapped-in-the-middle-of-a-crash">Trapped in the middle of a crash&nbsp;</h2>
Unlike the Bitcoin market, which operates globally 24/7, the liquidity of Bitcoin ETF is limited only to US market hours.&nbsp;
Now that the market has crashed overnight, ETF buyers have no option to sell, and they have to wait until the market reopens in the morning.&nbsp;
As <a href="https://u.today/bitcoin-btc-collapses-to-60k-as-etfs-bleed-500-million">reported by U.Today</a>, the price of the leading cryptocurrency came awfully close to crashing below the $60,000 level earlier today, extending its streak of losses.&nbsp;
The cryptocurrency market is showing no signs of resilience, with relentless selling resulting in more than half a billion dollars being liquidated over the last 24 hours.&nbsp;
Bitcoin is currently facing souring sentiment due to Bitcoin ETFs suffering from their biggest outflows to date.&nbsp;
Moreover, the upcoming rate cut decision by the Federal Reserve appears to be yet another bearish headwind.
So far, the market looks extremely dire for bulls, with the Bitcoin price plunging nearly 20% from its recent high.
<h2 id="nothing-new">Nothing new&nbsp;</h2>
James Seyffart, a leading ETF analyst at Bloomberg, recently <a href="https://twitter.com/JSeyff/status/1770289822822764944">took aim at Schiff's post</a>, arguing that the phenomenon that the gold bug described is not actually exclusive to Bitcoin ETFs. The same exact thing applies to gold-based ETFs and international equity ETFs. He further noted that there are market-moving events in the stock market that happen when trading is now available.&nbsp;
That said, Schiff <a href="https://twitter.com/PeterSchiff/status/1770234457057902858">claims</a> that gold "doesn't crash overnight" like its digital rival, so "there is nothing to worry about."&nbsp;

Peter Schiff Names Main Problem with Bitcoin ETFs

Table of Contents

U_Today

Other articles published on Mar 20, 2024

Tornado Cash Founder Charged For Allegedly Aiding $1.2 Billion In Laundered Funds

Bitcoin Behaves Differently This Cycle Ahead Of The Halving Event: Insights From On-Chain Data On...

Discover the Hidden Gems: Top Altcoins That Could Skyrocket from $100 to $1M

Ethereum ETFs might undergo approval delay due to unpreparedness

0x Protocol Price Prediction: ZRX Token Braces For Uplift; Launchpad XYZ Seen As Formidable Alter...

Bitcoin: Why a price prediction of $58K isn’t totally out of question

Join our free newsletter for daily crypto updates!