Hello!
No, I'm not talking about the Bitcoin price all time high, what I am referring to is that the Net Bitcoin ETF Flows are already at all time highs!
Super good news, considering we have been going sideways for some months now. This consolidation took longer than expected, but now it seems we are moving on. Here you have a chart from heyapollo.com where you can see the evolution of inflows for the Bitcoin ETFs:
I like to monitor this chart, some of the price action can be explained by this, they are net buyers or sellers that can move the market. For example yesterday October 15th they bought 5550 Bitcoins from the market, it's 12,3 times the daily new supply. Holy shit!
Most of the new buy pressure was from IBIT, the Blackrock Bitcoin ETF.
Here you have the chart too:
This week, the CEO of Blackrock, Larry Fink said in the media that he believes that Bitcoin is an asset class itself and that it will suck money from Real Estate. He is the biggest asset manager in the world, and with his 71 years is capable of understanding the shift we are witnessing. He’s probably surrounded by the best-informed team in the world.
In any case, the bull market is very near.
Take a seat and enjoy the fireworks, you deserve it.
Posted Using InLeo Alpha