Pinned straw:
I can add some colour regarding the bid price drop this week. A large chunk of the ETF is made up of $BTC miners and Microstrategy. They have had significant falls this week due to:
1) Weak $BTC price & ETF hangover.
2) Storms in US forcing shutdown of $BTC miners
3) Big Individual US Stock options expiry this week (Jan 17-19).
Most options expire on the third Friday of each month, creating a predictable cycle. This means activity heats up leading up to expiration, as traders close or roll positions . Vanna and Charm supportive flows return a week or so prior to OpEX every month ., then, we see a window of weakness on the Wednesday (Jan 17) of OpEx week.
Many BTC miners have been cut in half over the past 2-3 weeks, and are looking good value.
CRYP - could be the 'blow-off' from the BTC spot etf Launch Last Thursday.
Coinbase, MicroStrategy, Bitcoin mining stocks slide amid ETF launches | The Block
USA ETFs listed Below:
BlackRock's spot bitcoin ETF (IBIT) reached $1.05 billion in trading volume, surpassing BITO’s $1 billion first-day futures bitcoin ETF volume in 2021.
Fidelity's FBTC spot bitcoin ETF hit nearly $685 million.
Grayscale's spot bitcoin ETF product (GBTC) generated greater trading volume than those two, combined — reaching about $2.3 billion. However, Grayscale's ETF is a conversion of its flagship GBTC fund, and it's unclear how much of Grayscale's volume could be capital flowing out of the instrument.
The ARK 21Shares bitcoin ETF (ARKB) has generated $278 million worth of trading volume so far, and Bitwise (BITB) $122 million. Of the remaining ETFs, Franklin Templeton (EZBC), Invesco Galaxy (BTCO) and VanEck (HODL) all witnessed trading volumes below $100 million. Meanwhile, Valkyrie (BRRR), WisdomTree (BTCW) and Hashdex's (DEFI) trading volumes fell short of $10 million.
"While it's premature to make final judgments, this significant trading volume indicates a considerable influx of investor funds into the spot-based bitcoin ETFs," CoinShares Head of Research James Butterfill said.
simply the old 'buy the rumour sell the news..."
plenty of rushing retailers have plunged in right now, whilst the instos pull out.
just a matter of your timeframe