3 Reasons For The MASSIVE Bitcoin Dump

In this video George talks about SBF and FTX, the success of the Bitcoin spot ETFs and the BTC miners selling off.

🟩TapBit Exchange (US & Global) *$100,000 Bonus* ► https://bit.ly/3tskE3E
🔺MEXC Exchange (Global) *$20,000 Bonus* ► https://bit.ly/3ezpswc
🔷BingX Exchange (Global) $5,000 Bonus ► https://bit.ly/468zBVU
🟪Best Crypto Exchanges Guide ► https://bit.ly/3Gc7dF9

📰Join HODLer’s Herald Newsletter for *Free Alpha* ► https://bit.ly/3wY8wFR
🟧Join *CryptosRus’ Patreon* for More Alpha ► https://bit.ly/3z3It1Y
💛Take Courses at *CryptosRus Academy* ► https://bit.ly/3MZj1yZ

🚨Get NordVPN and Stay Anonymous ► https://bit.ly/3zgO2b9

***Other Channels to Follow***
✖️CryptosRus X(Twitter): https://twitter.com/CryptosR_Us
#️⃣CryptosRusPlus Channel: https://www.youtube.com/@cryptosrusplus?sub_confirmation=1
#️⃣CryptosRus Clips Channel: https://www.youtube.com/c/cryptosrusclips?sub_confirmation=1
#️⃣Drivers Only Channel: https://www.youtube.com/c/driversonly?sub_confirmation=1

0:00 ETF Outflow
1:44 FTX Sell Off
4:07 Miner Sell Off
6:28 BTC Accumulation

🔴Full Disclaimer: This video and its contents are for informational purposes only and do not constitute an offer to sell or trade, a solicitation to buy, or recommendation for any security, cryptocurrency, or related product, nor does it constitute an offer to provide investment advice or other related services by CryptosRUs. CryptosRus may have a financial investment with the cryptocurrencies discussed in this video. In preparing this video, no individual financial or investment needs of the viewer have been taken into account nor is any financial or investment advice being offered. Any views expressed in this video were prepared based upon the information available at the time such views were written. Changed or additional information could cause such views to change.

As for ETFs yes these big boys are adding uh Black Rock has over 1.4 billion of Bitcoin in their uh in their ETF Fidelity also has over 1.4 billion and bitwise and Arc both hold about half a billion okay you add it all together it’s a lot okay they are buying a lot

But what’s also happening is grayscale is selling a lot in fact yesterday they sold 640 Million worth of bitcoin from their fund and it seems like that’s escalating it seems like every single day there’s more and more flows outwards from gr scale right now if you look at a

Total flow 7 day you’ll see that grayscale sold approximately 3.5 billion of Bitcoin from their from the ETF okay and they have 21.5 billion left to go but the good thing is if you look at the others the the 11 others they’re eating it up so if you add Fidelity and

Black rock and bit wise and Arc Invesco and everything it’s a net positive meaning there’s still more Bitcoin going into these ETFs then coming out despite grayscale selling so much but why is grayscale selling so much there’s a number of reasons for that a lot of insiders that’s been holding for years

Upon years upon years upon years they may want to cash out because finally they have opportunity to do so but there’s also one in particular one in particular that’s been selling more than everyone else and I hate to say it you know the ghost of s SPF is back sort of

The new FTX you know they’re going through bankruptcy procedure and trying to recover and trying to relaunch I don’t know what happened there if they are truly trying to relaunch but supposedly they got all the money back and here’s one way of getting their money back by selling and dumping their

Grayscale shares so they sold approximately one billion dollar worth of bitcoin from grayscales Bitcoin ETF so out of the out of the 3.4 billion that has been sold well what at least 1 billion of that is from FTX alone and of course they had to wait until Grace Hill

Converted their trust into ETF in order to do so because before or if you think about it trust was actually pretty good great skilles trust just allows Bitcoin to come in but never allows Bitcoin to come out right but now it goes both ways but we can’t blame gray scale because

Gry scale was the one that allowed you know that fought the SEC and won and allowed ETF to to to even come to be right so can’t fault gr scale for that they can’t really control whether or not FTX decides to sell a billion and hopefully they don’t have any more

To sell right but there are still a lot of outflows but right now the good thing is the other ETFs are eating it up again I’ve been saying this for a while right these big boys are not going to stop eating it up they’re they’re replenishing their funds right now or

Not replenishing they’re filling up their newly created funds and they’re not going to stop until those funds are filled with tens of billions hundreds of billions worth of bitcoin just like grayscale right great scale still has 21.5 billion it’s just a matter of time before you see black rocks have 21

Billion and then fidelities has 21 billion and then not too not too long after that you go see it with 50 billion or 100 billion worth of bitcoin in there it’s not going to stop and this is just within their fund that does not mean that these guys can’t be holding Bitcoin

In other wallets too that they control that they’re loading up on right we just don’t don’t know but we know with the scarcity of Bitcoin getting more scarce there’s just not that much to go around so I decided to load up I got to remove my camera here I decided to load up

Crypto Quan and looked at the minor outflows for all the miners and you could see since ETF approval there’s a lot of these big green bars and these are outflows okay before you would have outflows now you’re having massive outflows like the one that happened right here a few days ago

4,475 Bitcoins being sold that’s approximately $ 1.5 billion so when you have a weak Market you know Bitcoin was hovering around 4 41,000 and then you have 1.5 billion being sold of course that’s going to make a big impact and drop Bitcoin below 40,000 to 30s you know and

That’s where we are so the miners seem like they’re still selling and I’ve covered this before I said miners it’s not like the miners are like FTX and just dumping because they want to get out it’s because they’re trying to prepare for the having event they’re trying to prepare they’re trying they

Need that money to continue to operate to buy more infrastructure to buy more equipment right they want to stay competitive in the space because it’s not just one minor there’s a dozen Miners and they’re competing with pools too so everyone is trying to load up I believe on new equipment and they need

Money for that but it’s unfortunate that they’re doing it now right they probably didn’t know that grayscale and FTX were also selling and then on top of that they’re selling of course that’s a lot of selling even with all the buying can’t overcome all the selling right SO

Waiting for this to stop as well so when the miners realize okay we sold enough we have impacted the price way too much let’s stop that’s when Bitcoin can recover I believe it’s just there’s just too much selling right now uh but here’s the good news the having event is 3

Months away and these big boys that I mentioned I mean it’s not like we really want them to to buy up all the Bitcoin there is overall 100,000 Bitcoins accumulated in just 7 days just one week what about the second week another 100,000 third week 100,000 fourth week

100,000 I mean you get my picture right so these big boys continue to buy up despite some selling eventually that’s going to catch up again not to say this is good longterm we don’t want these big boys to be each holding a million plus Bitcoin that’s just just gives them way too much

Control that’s why we need to take advantage while we still can and grab some while things are still cheap that’s why when things are down you think of it as a buying opportunity a gift you could buy Bitcoin and crypto at a discount a steep discount that’s the best way to

Think about it so we have these big boys still buying we have let’s say lesser big boys like whales that are still buying for example someone right just transfer $100 million okay into binance what do you think they’re going to do with that money it’s not like they’re converting

Into Cash they already have a usdt so they’re going to be buying so you have the big institutions that continue to load up you have the whales that are now coming back and realizing well this is a pretty good buying opportunity right and of course we got the big having event

That’s coming up in three months and other Callas that’s coming later this year just within months not years months right because all these things that’s why we need to hold strong we need to do what these guys are doing we need to continue to ignore the fud

Accumulate holdal and that is the game plan nothing wrong with that nothing changes when Bitcoin was at 16,000 when it was at 20,000 when was at 26,000 when it was at 30,000 40,000 the game plan is the same