Data from glassnode show that some long-term BTC holders are offloading some of their bitcoins.
Long-term Bitcoin holders sold 128K $BTC, but U.S. spot ETFs absorbed 90% of the selling pressure. 🔥 Strong institutional demand is fuelling BTC’s rally, bringing it closer to the $100K milestone. 🚀💎 Source: Kyledoops
SPDR ETFs and their YTD Performance
🥇 Financials $XLF +44.28% 🥈 Communication Services $XLC +37.19% 🥉 Gold Trust $GLD +34.37% Source: Trend Spider
How will this end?
Source: Jim Bianco
Bitcoin ETFs are catching up to Gold ETFs for total assets held
$104b for $BTC $121b for Gold After just 11 months Source: Bitcoin magazine
The S&P 500 ETF, $SPY, just saw 9 consecutive days of money inflows, the longest streak since 2014.
Investors have poured $18 billion into $SPY over these 9 days as post-election buying continues. Since 2000, $SPY has only seen 4 streaks with 9 to 10 straight days of inflows: in 2007, 2013, 2014, and 2016. Massive inflows supported the 5%+ run in the S&P 500 following the election. Over the last 13 months, the S&P 500 has now added more than $15 TRILLION of market cap. Source: The Kobeissi Letter, Goldman Sachs
All time high in notional turnover for iShares bitcoin ETF $IBIT yesterday at $5.4B
Source: Bloomberg
JUST IN: 🚨BlackRock’s Bitcoin ETF has hit $40 billion in assets in a record time 🚀 The most successful ETF launch ever
Source: Bloomberg, Bitcoin Magazine
FLOWMAGEDDON: A Trump-inspired gusher of cash is flowing into risk-on ETFs, +$22b in one day is absurd, that is normally a good WEEK.
YTD net flows now +$856b, (55b away from annual record) and the rolling 1-year has passed $1T Source: Eric Balchunas, Bloomberg
