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GBTC Dumps another 90.5M (Patreon)

Published:
2024-06-24 22:08:02
Imported:
2026-06
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Content

The Hedge Fund Carry Trade unwind continues.

We will find out soon if any other ETFs are snagging this dip or hanging tight. I may have been alone :D

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Comments

DigitalRengade

I don't know. that was a pretty big dip today. Maybe I shouldn't have gone in so hard!

Tech Research

I was watching a instagram video of a guy that’s been watching GBTC over the years and when they dump. Looks like they are they have been the major player in the industry dumping and pumping. It’s interesting to follow now what they are doing. Back in 2020-2023 they have had an effect on price including the carry trade since 2017 with shorts.

MR_Robbers

I sold a few 7 month old growth stocks in tax sheltered accounts over the past week or so. I will be using that powder to add to btc etf and proxies tomorrow. Will only hold the top up for a couple months and then re-establish growth positions during October seasonal dip. Seems reasonable. :)

Johnwan

Get ready for that mega candle to wipe out the shorts. Hard drop, then hard and fast swing up.

Invest4Freedom

200 moving day average is a bit lower Would make sense to bounce off of that

T-BoT
>>141751151

You go in hard right after the dump... not before, silly

Crypto Monte

Seems like GBTC has over 21M BTC A bottomless hole that goes to the core of the earth and BTC is just hot lava

Invest4Freedom

Quite possible we get a dead cat bounce to 62k-64k before one more smash down to 56k 70k to 56k is still only about 20% drop Hurts a LOT more when you're heavy in shitcoins Remember to layer out as things start to get wild Pigs get slaughtered so don't be greedy

Tzo911

It seems that, while GBTC is criticised for selling, Grayscale has been proved the smartest of all times and of all people. They have made billions of benefits. James it would be a good idea/exercise to try to make, since you have all these numbers, a rough estimate of the billions of profits realised.

Testbot#88

It sure seems Millenium was using GBTC and FBTC for their carry trade. To add insult to injury, as they sell the BTC positions they make even more profit on the puts. Methknks they will be done this week. The devil doesn’t rest.