Eric Balchunas, the seer of Bloomberg, first spied this maneuver-a trust registration in Delaware, the land where corporations bloom like daisies in spring. A mere procedural formality? Nay, ’tis but the opening act in the grand theater of crypto ETFs! 🎭
According to XWIN Research, STHs’ Spent Output Profit Ratio (STH-SOPR) has sunk to 0.97, which is basically crypto code for “I bought the peak and now I’m crying into my stablecoins.” Their MVRV ratio is also underwater, because nothing says “confidence” like being 65,000 BTC short and counting. 🐳💸
For a metric so slow and sedate, like a venerable tortoise measuring risks over epochs, such a precipitous plunge is more bewildering than a fool’s errand-disconcerting, even! As if the river of fortune itself took a sudden turn, leaving our brave Bitcoin floundering in troubled waters. 🐢💸
Crypto heatmap on Nov. 20 | Source: Coin360.com
While the sector donned a positive mask, not all ETFs joined the masquerade. BlackRock’s IBIT strutted with $60.61 million in inflows, and Grayscale’s Mini Trust added $53.84 million. Meanwhile, Fidelity’s FBTC and VanEck’s HODL wept, shedding $21.35 million and $17.63 million, respectively. A tale of haves and have-nots, my dear reader. 🎭💔
Analyst Ali (@ali_charts) dropped a bombshell: whales sold 190M XRP in two days. Translation: they’re either prepping for a crypto winter or just really hate us. XRP’s back at $2.11, which feels like the price of admission to a “buy the dip” joke nobody wants to tell. Historically, whale selloffs are like crypto’s version of a midlife crisis – messy and full of regret.
Behold! 87.27% of investors (a mere 87.27%, mind you) have declared their allegiance to the bullish cause. A veritable crusade of optimism! 🚩
World Liberty Financial (WLFI), that audacious crypto venture with a penchant for presidential patronage, has found itself in a tangle of digital disarray. A subset of user wallets, one might say, were the victims of a particularly sly phishing ploy-just as the platform’s token was poised to grace the launchpad like a debutante at a glittering gala.
The SEC, ever the elusive gatekeeper, holds the key. According to the latest filings, Grayscale updated its S-1 with the SEC on November 3, setting into motion a 20-day countdown that will either reward or punish them. If the SEC remains silent, the filing, like a silent judgment, becomes active on November 24, a day that may very well mark the birth of the Grayscale XRP ETF under the symbol GXRP on the NYSE Arca. A mere ticking of the clock. The anticipation, though… palpable, like a faint whisper of revolution.
