So far, 2024 is ₿’s worst performing halving year ever!
1 min read
Bitcoin is up 8.4% since the halving on April 20th, 2024. So far this has been the worst performing halving year ever…
The most surprising part of all this is that it comes in the wake of the launch of the spot Bitcoin ETFs. Reports of record-breaking daily inflows are common, yet price is only up 52% since the launch of the ETFs on January 11th. That’s not a lot relative to previous halving years.
This week alone saw a new record inflow, yet somehow it was met with a near equal amount of selling… I’m not getting out my tin foil hat just yet, but it does seem suspicious that every massive inflow (buying) it is met with a massive outflow (selling).
That’s not normal for Bitcoin if you look at previous years. There is usually a supply shock and rapid price increase, especially at these record-breaking levels of inflows.
Yes, I realize that most of it is done OTC, but that’s always been the case. How does one explain the current stunted price action in light of previous cycles? It’s not possible that retail could be selling this much.
submitted by /u/Vaginosis-Psychosis
[link] [comments]
