Wallstreet has now more than 300k BTC 🤯
Spot BTC(Bitcoin) ETF(Exchange-Traded Fund)s were approved about 2 months ago. I didn't expect that they would gather more than 300k BTC. It's a great performance than expected.
I think the recent rally of the BTC is related to this. The news about the rally is turning out, and the public started being interested in the BTC and crypto market. But, they are doubtful of the recent BTC price as bubble. I agree somewhat.
Because, the MVRV Z Score is now around 2.5. Since the BTC was listed on exchanges, whenever the BTC price broke 2.0 in every cycles, the BTC has suffered a deep price correction like COVID-19 or consolidations. So, there would be one of these in the near term. But, my perspective is the BTC will be going forward on and on for 1~1.5 years, which means this cycle's bullish market will be ended within 1~1.5 years.
I don't know how the ATH(All Time High) of the BTC will be. But, there are lots of quantitative tools like the BTC On-chain data. I'll be continuously tracking on them 🤩
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WallStreet will keep on Accumulating, The ETF is an ever-growing demand.