Part 2/11:
For over 56 days, grayscale has cast a shadow over the space, often viewed as a negative signal. However, a shred of optimism emerges as Fidelity’s Bitcoin ETF now surpasses grayscale in trading volume, suggesting increased institutional interest. This shift indicates that large players are favoring ETFs with higher liquidity, possibly signaling a bottoming or a new phase of accumulation.
Yesterday’s market saw a significant dump, raising fears of a further decline. Fortunately, the market held steady, avoiding a red day, which could point to a resilient foundation for the next movement. The commentaries highlight the importance of observing buy and sell walls—particularly at around $66,500—that serve as resistance points but also potential launchpads.