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Bitcoin’s Rollercoaster Ride: The Effect of BlackRock’s ETF on Market Stability

Crypto News and Updates / Logan / October 26, 2023

The recent fluctuations in Bitcoin’s price can be traced back to the events surrounding BlackRock’s IBTC ETF. This financial instrument first appeared on the website of the Depository Trust and Clearing Corporation (DTCC), creating significant buzz and causing Bitcoin’s price to briefly exceed $35,000.

However, the ETF then seemingly vanished from the site, only to reappear later. This series of events led to a sharp volatility in Bitcoin prices, indicating that current trading activity

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Bitcoin’s Balancing Act: Short-Term Holders and Bitcoin Market Pressure

The Bitcoin market is currently in a precarious state as the supply from short-term holders has significantly decreased this year. While Bitcoin’s price is gradually recovering, the STH NUPL metric nears a balance point, indicating the potential for increased sell pressure from short-term investors.

A key indicator of this trend is the Net Unrealized Profit Loss (NUPL) metric for short-term holders (STH). When the STH NUPL values are above 0, these holders can profit by selling their co