Gox to hit in early July - what about ETH ETFs?

K33 Research Pro

For Professional and Institutional Investors

24 Jun 2024

Gox to hit in early July - what about ETH ETFs?

BTC is down 8% over the last week due to significant negative supply shocks and consistently negative ETF flows. With spot ETH ETFs possibly coming next week and BTC's overhanging sales pressure, positioning for ETHBTC strength should be considered.

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Negative supply shocks drag the market down

BTC is down 8% over the last week due to to significant negative supply shocks and consistently negative ETF flows. The first supply shock came last week when German authorities unexpectedly started selling formerly seized bitcoin. In addition, it was announced on Monday that Mt Gox will start reimbursing creditors in July, further adding to the expected sales pressure in the coming months.

K33 Research Pro

Gox to hit in early July - what about ETH ETFs?

Negative supply shocks drag the market down

Significant selling pressure from Germany and Mt Gox

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