CryptoQuant founder: BTC price drop is due to sell-off in derivatives market, not GBTC
Ki Young Ju, founder of CryptoQuant, posted on X platform, stating: "Accumulate Bitcoin like institutional investors. The reason for the decline in BTC price is due to selling in the derivatives market, not GBTC. The over-the-counter (OTC) market is very active, but it does not affect the price. When off-chain OTC trading and spot ETF activity decrease and re-accumulation is complete, the bull market will begin."
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.
You may also like
JENNER Coin Holders Not Backing Down After Case Dismissal
GFO-X Launches UK’s First Regulated Crypto Derivatives
One of GFO-X's greatest strengths is its relationship with LCH DigitalAssetClear, a central clearinghouse.
History rhymes? XRP price gained 400% the last time whale flows flipped
Fed Rate Cut in June? These 3 U.S. Altcoins Could Lead the Next $1B Rally
Trending news
MoreCrypto prices
More
