$BTC ETF at the beginning of the week, Bitwise has heavily dumped, causing the cash flow to be negative by more than 100 million dollars!

After a series of days of rapid growth, BTC Spot ETF funds had a noteworthy break session with increasing selling pressure, led by an unexpected sell-off from Bitwise.

🔷 The trading session on 19/01 concluded with a short-term negative signal:

- Institutions sold a net -1,106 BTC out of the market.

- Equivalent to a withdrawal of -$102.66 Million USD within just the last 24 hours.

🔶 Distinction occurred sharply among the giants:

- Most notably, Bitwise unexpectedly became the leading Bear with a selling volume of up to -951 BTC. Following was the familiar face Grayscale, continuing to sell -319 BTC.

- BlackRock still maintains a net buying position of +159 BTC, but this buying force is too weak to counter the selling pressure from Bitwise.

- Other giants like Fidelity and ARK 21Shares chose to stand by and observe with a volume of 0.

🔷 Although the session on 19/01 was a day of decline, looking broadly at the weekly frame, ETF funds are still holding a huge net buying position of +18,138 BTC. This indicates that this might just be a short-term profit-taking after a week of massive buying.

Bitwise dumped nearly 1,000 BTC in one day, is this a periodic portfolio restructuring move or are they seeing deeper adjustment risks of BTC in the short term?

This article is for reference only and is not investment advice. Please read and consider carefully before making decisions.