this post was submitted on 13 Jan 2024
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Who knows? It’s a classic “buy the rumour, sell the news” stock story though, so there’s something about human psychology right there.
BTC shills are always pushing for the next big thing that will pull the mass buyers in. ETFs were going to be it this time around. I suspect a lot of people were holding onto BTC / not selling into the recent run-up in the hope they were right. If it turns out that there’s no demand there’s an awful lot of selling pressure out there: Miners are holding a lot of stock & the halving that will halve their income is only a few weeks away.