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The Bitcoin ETF has been selling in such a messy way that I have reason to believe that next week Bitcoin will enter the 5-figure range. The reason for the outflows is very likely due to IPO siphoning; and once Bitcoin moves into the 50k area, I believe that a lot of bottom-fishing funds will start to come in. These funds will be the key focus of the bull-bear standoff. I can’t predict whether Bitcoin will fall into the 4-figure range. I’d actually like it to drop into the 3-figure range or even lower—but I can’t control the market.
The recent rebound will most likely happen after 6.12, when it’s time for Elon Musk’s SpaceX to be traded on an exchange. It may get listed and pump up first, and then the funds flow back into Bitcoin.
All I can say is to have respect for the market and follow the trend!