CryptoQuant founder: BTC price drop is due to sell-off in derivatives market, not GBTC
Ki Young Ju, founder of CryptoQuant, posted on X platform, stating: "Accumulate Bitcoin like institutional investors. The reason for the decline in BTC price is due to selling in the derivatives market, not GBTC. The over-the-counter (OTC) market is very active, but it does not affect the price. When off-chain OTC trading and spot ETF activity decrease and re-accumulation is complete, the bull market will begin."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BTC falls below $76,500
Metrics Ventures: The market has provided the answer; quietly accompanying the industry's growth is the best strategy
Ride the wave, trade the trend, this heart is bright, what else is there to say.
BlackRock’s Bitcoin ETF flips gold fund
Trending news
MoreCrypto prices
More
