Bitcoin Breaks Below $39k Amid FTX, MtGox Liquidation Chatter

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It’s been an ugly ‘sell the news’ period since spot bitcoin ETFs were unleashed by a desperately begrudging SEC.

Having peaked above $49,000 on the day the new ETFs opened, bitcoin has broken back below $39,000 overnight..

This is (purely coincidentally) ‘great news’ for Liz Warren and Gary Gensler who can gloat at their warnings of the dangers to investors of placing their hard-earned wages (after taxes) into these volatile, terrorist-funding assets.

But, maybe there’s more to it – maybe this is not just ‘sell the news’-driven profit-taking (or GBTC-discount-arb-driven recycling).

See also  US government to sell $4 billion in Bitcoin soon

First things first, net of GBTC outflows, the whole spot bitcoin ETF complex has seen overall inflows of around $1 billion since inception…

www.zerohedge.com/crypto/bitcoin-breaks-below-39k-amid-ftx-mtgox-liquidation-chatter

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