Data: The speed at which ETF issuers purchase Bitcoin has reached 20 times the speed of mining output
Jinse reported that according to analyst Shaun Edmondson, Bitcoin ETF issuers purchased more than 9,000 BTC on Friday, January 3, and bought more than 9,600 BTC on Monday. Since the Bitcoin ETF was first approved, all 12 issuers have become large holdings in the industry. In October, they purchased an amount of BTC equivalent to 5 times global mining production. This number is now more than 20 times, and analysts believe that it is bearish. Market signals only lead to greater buying.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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