Trying to trade the crypto market while you wait for Bitcoin’s halving? Place your stink bids and ride any liquidity surges that equity markets bestow.
Bitcoin (BTC) gave investors whiplash last week when it fell from $69,000 to $60,800 — a roughly 18% decline from this month’s all-time high of $73,800.
The drop was fueled, in part, by outflows from the 11 new exchange-traded funds (ETFs) for Bitcoin. A total of $836 million in funding left the funds between March 18-21, according to data compiled by Farside Investors.
Are new investors getting cold feet? How likely are they to continue holding Bitcoin if the downward spiral continues? (It is, after all, the first time that Bitcoin hit a new historic high before — rather than after — its halving, scheduled to occur in April.)