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Grayscaletrust

BTC Market Update 5th February In the latest analysis post, I've closely examined the performance of Grayscale Bitcoin Trust (GBTC) with a particular focus on recent liquidity movements. Over the past week, spanning five trading sessions, a noticeable deceleration in the rate of daily outflows from the trust has been observed. Specifically, the average daily outflow rate has contracted by +20%, indicating a substantial reduction in the volume of withdrawals. Since its inception, Grayscale's Bitcoin exposure has significantly diminished, registering a reduction of 127,000 BTC, equivalent to a 20.5% decrease in its holdings. This contraction can be attributed to various factors, including the liquidation of positions by discount buyers, the unwinding of assets by the FTX estate, and a notable shift by investors towards more cost-effective ETF options available in the market. Regarding Bitcoin's market direction, my analysis suggests a period of consolidation before any potential upward momentum. Currently, there are no discernible indicators hinting at an imminent downturn in Bitcoin's value; the market conditions appear stable and ready to grow. This stability holds significance for the crypto market, as historical patterns indicate that an increase in Bitcoin's price often precedes similar uptrends across the broader altcoin market. In essence, when Bitcoin's price rises, it tends to have a ripple effect, elevating the value of other coins. The intricate interplay between Bitcoin's liquidity movements and its price dynamics, coupled with the subsequent impact on the altcoin market, underscores the complexity of the cryptocurrency investment landscape. Having a long exposure in the consolidation range is considered a favorable entry point, especially for portfolios without existing long exposure.
Long
by TheArabianWhale
1
BCHG + LTCN Bitcoin Cash & Litecoin Grayscale Trusts Hello everyone. BCHG and LTCN are moving almost in sync. I believe both of these trusts have the potential to surpass their all time high. BCH and LTC are both considered non securities and are two of only 4 cryptos total that the USA is allowing USA institutional and accredited investors to be able to purchase and invest in. I believe because there are so few to pick from that the majority of the money from these large players is going to flood into these few. The gains could possibibly be better with the LTCN trust because BCHG has made a larger percentage move from its lows to current. So the gains could be double with LTCN than BCHG but both will have significant gains. What many people dont realize is that for a mega multi millionaire or billionaire, and billion dollar companies to invest in these cryptos there needs to be clear rules from the USA government or they simply cannot risk investing billions of dollars into a gray market. Also there needs to be insurance and a custody option which has been in the works for a few years now and is complete. The past bull runs was just the small player, little guys, retail. This next bull run will be the big money. So what Im getting at is dont ignore what the USA is doing and what is allowed. USA has the deepest pockets in the world and what USA does the rest of the world eventually follows. So if the USA CFTC and SEC say Bitcoin, Ethereum, Litecoin, and Bitcoin Cash are the four crypto currencies that are considered non securities then that should be enough for anyone with eyes to see where the most money will be made in this next run. Right now its just meme and shlt coin season and the spotlight is on them. Once these four OG cryptos above start appreciating significantly and rapidly, watch how fast the spotlight flips and the fomo kicks in. Also I see a lot of hate for LTC on youtube, forums, even on here. Its an indicator, for me at least, that Litecoin has passed the depression stage and is about to take off. Many many people got burned in Litecoin in the past and have a distaste for it so they will slam Litecoin any chance they get. I dont let the FUD bother me or move me out of position. This is not financial advice this is just my opinion. Thank you
OTC:BCHGLong
by Bitgolder
3
#GBTC - Grayscale -9.7% to Net asset ValueWhere is Barry Silbert? :) Anyway Grayscale #Bitcoin trust is a few months away from achieving equal valuation to it's holdings of #BTC What does it mean ? Mainly its a sentiment indicator this cycle, but it still holds a vast quantity of coins so we will see if all these #ETF's get approved. Big players can get exposure to discounted BTC still! ( plus the yearly fund fee) When the discount goes away and the low cost ETF's get approved that buy pressure is likely to shift to those vehicles instead.
GLong
by BallaJi
Grayscale Ethereum Trust (ETHE) Daily Price TargetsHey traders, Looking at the daily time frame of ETHE here, if Ethereum can continue its move upwards, we can expect to see a $ 12 price target for ETHE. At the moment, ETHE by itself is -44% Discount to NAV which means you’re essentially buying Ethereum spot price around $1000. The $ 8.78 support level has held and i’m expecting that to before this move up and out of the $ 8.78 - $ 9.78 range, and hitting $12.11 as a result of that momentum. Again, this chart basically depends on the spot price of Ethereum, These targets I have marked are where i’m looking to take profits: 🎯 12.11 🎯 13.89 🎯 15.97 As always please do your own research, this is not financial advice.
ELong
by kyer
Powell Time The past two weeks have been relatively calm as Bitcoin traded in the $16,000 to $17,500 range. It appeared that the contagion effects from the FTX collapse were slowly starting to fade, however in the past few days more information has surfaced surrounding Grayscale Bitcoin Trust (GBTC) and its potential insolvency. On Wednesday GBTC closed down -7.42%, giving prospective buyers a record 43% discount on Bitcoin. Many are hypothesising that a large institutional investor is dumping shares of the ETF in order to patch a hole in their balance sheet and maintain solvency. After all, it has since been revealed that many institutional players, such as Grayscale’s parent company (Digital Currency Group), had significant exposure to FTX and its associated companies. You would assume that investors would flock to buy at these discounted levels, however Grayscale is currently being sued by hedge fund Fir Tree in order to investigate potential mismanagement and conflicts of interest. It’s likely that many investors will wait for the outcome of this litigation before making a definitive decision. In other news, Jerome Powell, chair of the Federal Reserve (Fed), gave a speech on 30th of November where he detailed that a 50 bps rate hike was coming. Interestingly, this immediately caused a surge in risk assets and equities, the opposite from what macroeconomic theory would predict. This is likely due to markets reacting to the higher probability of a “pause” (a period where a central bank holds rates constant to assess if and how its policies are working) based on Powell indicating that future rate hikes might be less significant. However, it appears that the market overreacted to this news as the gain in equities following the speech has since been wiped out as the S&P500 has corrected to the levels it was at prior to the speech. From a technical perspective, bears will be hoping for a break below the $15,500 support level which would likely bring new market lows not seen since 2020. This support has held since our last market update however it is yet to be retested. Additionally, since our last update where the MACD initially crossed its signal line, the short term upwards momentum played out and the histogram has remained bullish. Another important point to note is that the Money Flow Index (MFI) has been trending upwards since it bounced off oversold levels in early November. If this trend continues to play out and the oscillator moves towards 80, traders may look to exit long positions and start to look for short entries. The two key events to watch in the coming weeks are the December 13th announcement on U.S CPI inflation and the Federal Reserve's December 14th announcement on rates. If inflation comes in soft, it’s likely that risk assets and equities markets will see at least a short term increase in bullish momentum. Inflation figures will likely dictate the Fed's decision on rates the following day and will determine if they stick to the 50 bps hike that Powell hinted at. These two events will have a major bearing on short run market direction. However, if GBTC continues to capitulate and the fund does indeed unwind, the short term future will be bleak for crypto.
by Coinrule
1
GBTC versus BTCUSD (Bitcoin)(1) 🔬 Dividing the GBTC price by the BTCUSD price, we have this chart in a downtrend. This indicates that GBTC has underperformed Bitcoin. 🟢 The price spent most of the time in the green rectangle, threatening to break out several times. In March 2021, GBTC broke out of this rectangle. 🟣 Projecting this rectangle downwards, in a new purple rectangle, we have a possible target, which culminates exactly in Fibonacci prediction 2. Price is currently in the middle of the rectangle, testing the 1.516 forecast. 🐂 For a bullish reversal to materialize, price needs to break out of the exponential 55-period Bollinger Bands' bear channel: (2) 🆚 Bitcoin's MarketCap vs GBTC's MarketCap 📈 MarketCap of Bitcoin: 📈 MarketCap of GBTC: 🧮 If we divide the GBTC marketcap by the Bitcoin marketcap, we have a percentage of 1.95%. 🤔 Question: In the worst case scenario, if GBTC and Genesis go bankrupt, and if Grayscale sells all the Bitcoins it claims to have, what would be the impact on the price of Bitcoin? (3) 📈 GBTC price On the diagonal Fibonacci channel, the price touched the -0.5 retracement. ❓ Question 1: On the vertical Fibonacci retracement, will price test the 0.618 retracement at $7.06, stretching wave 5? ❓ Question 2: Or will the price go even deeper, hitting the 0.5 retracement at $3.68? 🐻‍❄️ If this happens, the DMI SMI oscillator could indicate a key moment rarely reached (see green circles).
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by andre_007
ETHE Grayscale Eth: 1D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Grayscale Ethereum Trust (ETHE). The chart is self-explanatory. Price has been moving in a Descending Parallel Channel. It broke down from a Multi-month support line now resistance and may go back up for a re-test. The RSI also looks like it may be going back down to re-test the S/R line. A Death Cross may be a possibility coming up. Included in the chart: Trend line, Support and Resistance Lines, RSI, Descending Parallel Channel, Death Cross, Simple Moving Average, Volume, Bull Trap, Volume Profile Visible Range (VPVR). If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. I have additional charts below on cryptocurrencies, stocks and more to review. Check them out! Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
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by MillionaireEconomics