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Citi: ETF inflows rather than strategic sales are the key driver of Bitcoin

CoinNetwork
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CryptoWorld News reports that Citi analyst Alex Saunders pointed out that the recent sale of Bitcoin by MicroStrategy Inc. at a price of $66,881.93 has had a significant impact on market sentiment but has not changed the company's long-term strategy. Citi stated that this sale was expected after signals during the company's first earnings call indicating the disposal of certain tax-inefficient Bitcoin holdings. The analyst noted that recent ETF inflows have turned negative, and the chances of the U.S. Market Structure Act passing are decreasing, which could affect investor interest. Although digital asset treasury companies have become major buyers of Bitcoin, Citi believes that treasury-related sell-offs are not the main factor behind the recent market weakness. The report also warns that the likelihood of the U.S. Crypto Market Structure Act passing this year appears to be declining, potentially reducing short-term catalysts for new investor inflows.
BTC-3.17%
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RetroRadio
· 10h ago
Digital asset treasury becomes the biggest buyer; this narrative is quite interesting.
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YieldTuningFork
· 12h ago
Citi's report is quite candid; the short-term selling pressure is indeed frightening, but in the long run, MicroStrategy is still that MicroStrategy.
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GateUser-26f91b48
· 14h ago
66k shipments count as high-level cashing out, just tax optimization, don't overinterpret.
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SilverLiningOfPessimism
· 14h ago
Short-term bearish, but MicroStrategy's coin-based mindset hasn't changed
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QuantitativeButNotPretentious
· 14h ago
The earnings call earlier hinted that it's just fulfilling expectations for now.
View OriginalReply0
MistValleySignpost
· 14h ago
Selling pressure is not the main cause, then what is the main cause? Macro?
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GateUser-15b19a42
· 14h ago
Let's wait until the end of the year; right now, it's just the bottoming-out phase.
View OriginalReply0
SweepTheFloor
· 15h ago
This price is for shipment, Saylor is quite calculating.
View OriginalReply0

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