Bitcoin ETF Flows show negative trend for the first time since launch. Not so. Bueno In terms of reported news, but in terms of price, action looks like on the daily chart, there might have been a fake out breakdown as in actually favoring the Bulls. So let's get into it: Outflows at Grayscales Gbtc have remained.

High While inflows for other funds as a group have slowed, this net situation is now becoming negative. But I Do want to clarify that Gbtc outflows mainly triggered by the people currently running and operating FTX saying hey, we need to sell to pay some people back. That's major news right there. The group of recently launched spot Bitcoin ETFs are seeing combined negative flows for the first time since they opened for trade on January 11th as money moving into funds like Black Rocks, Ibit and Fidelity's Fbtc have failed to keep Pace with the exits of Grayscales Gbtc.

So we're seeing inflows into basically nine out of the 10. But that outflows of Gbtc. It's just too great that now the net situation is actually negative. The 10 Spot Bitcoin ETFs Gbtc included saw a net outflow of 158 million on Wednesday Grace kill Gbtc profit taking likely over easing.

Bitcoin Selling pressure. According to JP Morgan around $1.3 billion have shifted from Gbtc to new spot Bitcoin ETFs equivalent to a monthly outp of about 3 million per month the bank said in a report. but once again, it is slowing down. That is very important to note that it is the pace of it is calming down, so it seems like it's going to be over sooner rather than later.

The only fund that saw actual negative flows over the week was Gbtc which saw total Bitcoin interest fall to 523 million from 592. so basically 70 million just going somewhere else. Among the other nine funds Black Rock Fbtc at Fidelity are leading the way, each now holding more than 40,000 Uh, and then right now both are closing in on 2 billi in assets under management. So the trends we're seeing right now are a little bit bearish, but it seems like the magnitude of the bearishness is actually slowing down now.

just so everyone knows, We kind of see that right here in the price action. Lot of excitement in Bitcoin Then we get the whole buy the rumor, sell the news of the approval of the spot ETF Then because of what's going on with Gbtc and FTX it got crushed. But now that it seems like it's closer to being done than it is at the start Maybe a fake out breakdown? We had it flip the cloud, flip the 48 EMA and then also flip this trend line. This is what I'm saying and we spent about 4 days down here.

But as I'm filming this live, we're starting to see that pushup and my short-term prediction is if we can get above and hold above 42 then I would be watching 43.5 and then from there I'd be watching 45 basically flat and obviously your risk if you took that trade would be either 38.5 or about 39.5 depending on how conserv you do or don't want to be. Also on that particular note, I Just want you to know Bitcoin currently trading at 41.5 which puts the overall market cap now back above 800 million. Many retail investors see Bitcoin prices dropping below 20K by the end of the year according to Deutsche Bank more of the surveyed said that they expect Bitcoin to disappear than those who said they expect it to continue to exist I Have to ask you this because based on my audience and the people I talk to, this seems not true. Um so Deutsche Bank Apparently I don't know asking some of the biggest kerin, the biggest carens of the crypto market.

So I just wanted to put this on you and you and your community and who you talk to I Guess your network? Do you think it's going to disappear? Do you think it's going down to 20K cuz I don't think we're ever going to see 20K again like I think we're going to be above that literally for the rest of Bitcoin but then also for it to completely disappear. Obviously if I don't think we're going below 20K I Inherently don't think it's just going to disappear judging by just what's happening in the spot market right now. So I just wanted to ask you all that like do you think th this seems click baity to me, just wanted to share that of what's happening and then just to wrap this all up: Spot Ether ETF Applications Decision delayed by SEC Grayscale and Black Rock are among the companies trying to bring Spot Ether ETFs So obviously, now with the approval of Bitcoin being a spot ETF, there's going to be a massive influx of trying to get all these other leading crypto plays. I Think that the fight forward is actually going to be more difficult than Bitcoin And the reasoning for that is because we've already known that Bitcoin is defined as a digital commodity and that's very important because it's a commodity, not a security.

The SEC has already agreed on that years ago, years ago, and you saw how hard the fight was to get it as an ETF. The issue here is with everything beyond the world of Bitcoin Literally, Bitcoin is the only crypto that's defined as a commodity from a legal regulatory standpoint. every other one, including Ethereum, which is the number two top dog that one is still in debate of if it's a security or not. so people are applying, companies are applying to get these other ETFs but I Just want to share my two cents on it that I wouldn't be holding my breath on it in the short term because of this regulatory definition.

I Think there's going to be a lot of legal fights playing out to really get definitions going and it all comes down to the how we test this that the other thing obviously the current SEC Gendler under really Elizabeth Warren They're not the biggest fans of crypto so they weren't even happy about the Bitcoin one even though to be fair, Gary Guzzler was the deciding vote that we got the Bitcoin approved. Just just to be clear, like I Don't know like we're going to definitely bag on the dude when he does bad things, but he was the deciding vote for actual approval. Just want to throw that out there. but in terms of these other ones being approved as I alluded to before, I wouldn't be holding my breath on it because of that legal definition.

Right now, a lot of the SEC is calling them Securities and not a commodity and it's going to get way. I would say it would be FastTrack if it was already defined as the commodity which is just simply where we're not at. So just want to give you the update of everything going on in this. Uh, but it looks like the current price action in the short term of Bitcoin fake out breakdown looking for some bullishness but also my mind being blown by the report from Deutsche Bank that a lot of people are thinking that it'll disappear and most are thinking it'll be below 20,000 by the end of the year I Don't know the people I talk to that seems like completely outlandish, but I figured I'd pose the question to all of you awesome folks.