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0 sats \ 0 replies \ @Anonymous_Hodler OP 15 Feb \ parent \ on: ETF Inflows and BTC Price correlation bitcoin
Yes it is trading, but off grid… it s an agreed transaction between the exchange and the client, compared to have the client buying from another client. So instead of buying the btc from another holder, they buy from coinbase « reserve ». That transaction’s volume is then not accounted in the daily public trading volume. Once again , blackrock and coinbase find an agreement on a price and transact , out of the market. So thiese blackrock volumes shouldn’t impact the btc « public price »
I am reading as carefully as i can here from work, but still, your answer doesn t answer my question. Maybe you don t get my question or maybe i wasn t clear enough. You described me blackrock buying coinbase « reserves » otc creating a supply crunch which i agree overall but still, it doesn t explain why the spot price move. It would move if the trades were happen like if you and I bought from the exchange, but the point of OTC is purposedly to be different to avoid chaotic price variations…
It is « private trading » so the volume doesn t appear on the spot market , avoiding massive gaps and candles due to the massive orders.
Blackrock buys btc from binance without having their orders being put in the market buy and sell book…
1.8M btc held by exchanges. This supply is not any where to be dry, so it still doesn t answer the question
As of general supply, according to glassnode, exchanges hold 1.8M btc, so i think such pressure isn t correlated
Let s try to be more visual…
Blackrock buys shit ton of btc, decreasing the supply… but doesn t buy anything « on the market »
Then the market orders show buyers and sellers, and these orders are not affected by the diminished supply since this supply is the exchange reserve…
if the supply / demand had an effect on the « public market » there would be no point to trade over the counter, don t you think?
That totally doesn t answers my questions lol… you are actually enforcing my point more otc activity should not have any impact on spot prices since there is no public transaction!
No, prices moves with transactions… i nobody transacts, prices don t move… that s my point… by transacting OTC, the price is not supposed to move , but it does obviously…!
Oops missed some updates. Nothing wrong with them, actually pretty good, looks like they moved their assets in a native segwit wallet… everybody can go back to their life loool
I think even if btc is a better investment vehicule for the future, the old saying « not all your eggs in the same basket » still applies… unexpected shit happens sometimes…!
Threat to the is dollar is what they are scare about. Their all influence and legacy system could just be blown away…