Bitcoin ETF

Bitcoin

<p>The post <a href="https://coinpedia.org/news/government-bitcoin-sell-off-wont-shake-crypto-market-say-cryptoquants-ceo/" rel="noopener noreferrer nofollow">Government Bitcoin Sell-Off Won’t Shake Crypto Market Say CryptoQuant’s CEO</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Recent, selling of sized bitcoin by the German government has exerted selling pressure that triggered panic among crypto investors. This move has somewhat resulted in <a href="https://coinpedia.org/news/large-bitcoin-wallets-see-major-gains-amid-bitcoin-price-dip-to-56k/" rel="noopener noreferrer nofollow">Bitcoin’s price dropping by 4.3%</a> in the past day and over 6.63% in the past week, pushing it below the $54,000 mark.&nbsp;</p>
<p>Perhaps, CryptoQuant CEO Ki Young Ju suggests that government Bitcoin sales may not have as significant an impact on the market as previously thought.</p>
<h2 class="wp-block-heading" id="h-minimal-impact-of-government-selling-btc">Minimal Impact Of Government Selling BTC</h2>
<p>According to Ki Young Ju, around $224 billion has flowed into the Bitcoin market since early 2023. In comparison, government-seized Bitcoin amounts to about $9 billion, accounting for only 4% of the total realized cap in this period. This challenges the idea that government-held Bitcoin significantly impacts market liquidity.</p>
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   <p lang="en" dir="ltr">CryptoQuant CEO Ki Young Ju: Government Bitcoin selling is overestimated. $224B has flowed into this market since 2023. Government-seized BTC contributes about $9B to the realized cap. It's only 4% of the total cumulative realized value since 2023. The realized cap represents the…</p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1809521876303245656?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 6, 2024</a>
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<p>Meanwhile, Ju highlights the importance of the realized cap, which differs from the traditional market cap. While market cap multiplies <a href="https://coinpedia.org/news/bitcoin-bottom-and-upcoming-ethereum-etf-to-boost-altcoins/" rel="noopener noreferrer nofollow">Bitcoin’s current price</a> by its total supply, the realized cap is calculated based on the last price at which each Bitcoin moved.&nbsp;</p>
<p>However, the realized cap, according to Ju, reflects the total value of on-chain trades, often described as a “graveyard of exit liquidity victims.”&nbsp; It reflects the capital accumulated as profits are realized and trades are executed. A higher realized cap suggests stronger fundamental support for asset prices, particularly in speculative markets like Bitcoin.</p>
<h2 class="wp-block-heading" id="h-bitcoin-etf-inflows-surge">Bitcoin ETF Inflows Surge</h2>
<p>CryptoQuant’s CEO suggests that despite worries over government Bitcoin sales, the <a href="https://coinpedia.org/news/large-bitcoin-wallets-see-major-gains-amid-bitcoin-price-dip-to-56k/" rel="noopener noreferrer nofollow">market continues to be strong </a>with substantial new capital flowing in. This influx of capital supports Bitcoin prices, which could help stabilize the market during periods of volatility.</p>
<p>Recently SpotOnChain, a popular analytics firm, reported that Bitcoin ETFs saw net inflows exceeding $143 million on July 5.</p>
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> <a href="https://twitter.com/hashtag/ETF?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#ETF</a> Net Inflow July 5, 2024: +$143M!<br><br>• The 10 US Bitcoin ETFs received a net inflow of $238M with inflows on 2 out of 4 trading days this week, despite the <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> price dropping 7%.<br><br>• Only <a href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Grayscale</a> (GBTC) saw an outflow yesterday.<br><br>• <a href="https://twitter.com/hashtag/BlackRock?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BlackRock</a> (IBIT) had a net flow… <a href="https://t.co/27gGIVOLDr" rel="noopener noreferrer nofollow">pic.twitter.com/27gGIVOLDr</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1809436299990020104?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 6, 2024</a>
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<p>According to their data, Grayscale’s ETF (GBTC) experienced outflows of $28 million on the same day. The Fidelity ETF (FBTC) led with $117 million in investments, followed by the Bitwise Bitcoin ETF (BITB) with $30 million in inflows. However, certain exchange-traded funds recorded zero flows during this period.</p>

Government Bitcoin Sell-Off Won’t Shake Crypto Market Say CryptoQuant’s CEO

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