Grayscale sends letter to judge protesting how can a leveraged 2x Bitcoin ETF be approved by the SEC, but not a spot #Bitcoin ETF.

Grayscale has a good point.
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- Binance Killers®

VIP INSIDER UPDATE
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In 2022, the #Bitcoin Realized Cap drawdown reached the second deepest value of -18.8%, demonstrating the magnitude of the bear market.

Recovery of the Realized Cap ATH in prior cycles has taken between 95 and 239 days, with the recovery so far occurring at a similar rate.
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💥#Bitcoin   Mining Difficulty at ATHs!
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VIP NEWS UPDATE

The US government has sold an additional 8,200 #Bitcoin.

Their remaining balance is 195,307 #BTC
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VIP MARKET UPDATE
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The #Bitcoin Long-Term Holder Supply has reached a new ATH of 14.52M BTC, equivalent to 75% of the circulating supply.

This suggests HODLing is the preferred market dynamic amongst mature investors.
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- Binance Killers®

VIP NEWS UPDATE

U.S. Representatives Gus Bilirakis and Jan Schakowsky have written to Apple expressing concerns about the restriction of emerging #Bitcoin and 'crypto' applications on their store.
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BREAKING: The SEC officially DELAYS Cathie Wood's ARK Invest spot #Bitcoin    ETF application.
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Grayscale Spot #Bitcoin ETF announcement is likely to be made today.

Awaiting for SEC to announce
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- Binance Killers®

SEC delays decision on WisdomTree and Invesco #Bitcoin    ETF applications
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- Binance Killers®

VIP MARKET UPDATE

Every #bitcoin    cycle consists of 4 phases

1. bull
2. bear
3. stealth
4. halving

we are currently in stage 3 - stealth phase

halving is only ~190 days away
it's basically an accumulation phase. so make sure to position accordingly
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- Binance Killers®

Gary Gensler has lost the #Bitcoin ETF war.

(Probably the worst SEC chairman ever.)
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- Binance Killers®

#BITCOIN ETF UPDATE
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Grayscale is ready to convert its #Bitcoin Trust (GBTC) to an ETF as soon as the SEC approves its application.
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- Binance Killers®

#Bitcoin is massively outperforming the stock market, and you need to pay attention to this.

And here is the data:

The S&P 493 is now up just ~4% in 2023.

Meanwhile, the S&P 7, which is the remaining 7 large tech stocks in the S&P 500, is up ~57% in 2023.

Without tech stocks and recent AI-hype, markets would be significantly lower.

So #Bitcoin belongs to the top performing in the magnificent 7.
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- Binance Killers®

BIG BREAKING 🚨

SEC Chairman Gary Gensler confirms ongoing review, and talks potential benefits of #Bitcoin ETF
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- Binance Killers®

BREAKING 🚨
🇺🇸 Coinbase is "confident" the SEC will approve a spot #Bitcoin ETF - CNBC 🚀
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- Binance Killers®

BIG BREAKING 🚨

#Bitcoin has surpassed the market capitalization of both Visa and Mastercard.
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- Binance Killers®

JUST IN: #Bitcoin    ETFs have taken $782m in new funds in just 3 days - Bloomberg's #EricBalchunas
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- Binance Killers®

MARKET UPDATE
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We can compare the relative scale of #Ethereum derivative markets to #Bitcoin, considering the dominance of futures open interest.

BTC perpetual swaps accounted for 55% of open interest in Jan-2022, which has since risen to 66.2%.

Conversely, ETH open interest dominance decreased from 45% to 33.8% between 2022 and 2024. However, following the ETF approval, ETH regained some market share, with its dominance rebounding to ~40% by this metric.
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- Binance Killers®

VIP MARKET UPDATE
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More than a billion dollars in #Bitcoin Long positions will be liquidated if $BTC hits $39,500.
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- Binance Killers®

Clients can now purchase #Bitcoin ETFs from Merrill Lynch at Wells Fargo & Bank of America.
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- Binance Killers®