BlackRock deliberately driving down Bitcoin price in anticipation for Spot BTC ETF approval, analyst says

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BlackRock deliberately driving down Bitcoin price in anticipation for Spot BTC ETF approval, analyst says
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BlackRock asset manager is among the list of institutional players awaiting a decision from the US Securities and Exchange Commission (SEC) after fili

They might have already purchased their Bitcoin months ago when prices were lower. Or, they could be driving down prices deliberately to establish a better buying position for themselves.

The transactions happen outside the exchange at an agreed price different from the spot price indicated on the exchange. In Helfman’s words: As a result of this, buying and selling often happens without affecting the price of Bitcoin, meaning it may go unnoticed on a chart because they tactfully buy just enough at any given time not to disturb the price. That said, large holders can still also dump Bitcoin to drive down the price.are more experienced, knowledgeable, and have more connections. Given their mostly huge Assets Under Management , it only takes a small fraction of their holdings to influence Bitcoin price.

If there is any truth to Rover’s assertions, then it highlights the role and influence of big corporations in driving the market. It also reminds retail investors to be more analytical in a market swayed by big players.An Exchange-Traded Fund is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price.

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