In his tweet dated July 1, IS Investment International Capital Markets Manager Shant Manukyan shared with his followers two important indicators that he used to determine the confidence of capital in Bitcoin (BTC) in the short term.
Manukyan, shot on the morning of July 1 tweetIn , the news of MiCA, a detailed cryptocurrency market regulation, or the news of El Salvador buying 80 Bitcoins are important to test the trust of the capital in Bitcoin, but he himself effective with two different indicators expressed interest.
Good morning, the MICA, which is a detailed arrangement, or the purchases of El Salvador, which bought 500 BTC from 30700 in May and now says “thanks for selling it cheap” when you buy 80 (DCA is nothing like that) are important news, but the ones I follow There are 2 separate indicators.
One of the indicators followed by the famous economist Manukyan GBTC. Manukyan filed the lawsuit filed by GBTC, whose request to become an ETF was rejected. He says he doesn’t think he can win. According to their statements, GBTC reason to follow Funds that buy discounted Bitcoin like 3AC liquidation follow. Manukyan seen in GBTC volumes, late June of the anomaly From 3AC sales He thinks that the reason for this is due to the fact that it is necessary for the projection to know at what stage the sales are.
I’m following GBTC for liquidation of funds like 3AC, not for discounts etc. one obviously won’t be able to get GBTC, ETF clearance (and lose the case). The long bars you see on the right are probably 3AC’s sales. Where we are in sales matters.
Following by Shant Manukyan The second indicator is Silvergate stock.. Manukyan, Silvergate Credit to Microstrategy and relationship to USDC due to Silvergate believes there is a gateway between cryptocurrencies and traditional capital markets. A possible exit or collapse in crypto, the famous economist That it will reflect on Silvergate He stated that he believed.
The second stock is on my radar because of its SI, MSTR loan but more importantly because of its relationship with USDC. The stablemoney realm is still boiling. If there is to be a real recovery in crypto, it will show itself in the SI stock (or vice versa). This share is also the gateway between two worlds.
silvergateon March 2022 to Microstrategy to buy cryptocurrencies He gave a loan of $205 million. Since March, approximately 60% depreciating Bitcoin, Microstrategy’s obligations increased by 60%+interest but this is not only the case of MSTR at Silvergate has deteriorated its risk profile. By recalling the Silvergate loan of bitcoin it can secure itself in case it falls further and the MSTR sinks. or call his loan on time. At this point MSTR bankruptcy risk, with a satisfactory reward rate (Bitcoin’s rise to around $35-38,000) Silvergate investors increase or maintain their investments. will be the forerunner. Hence Silvergate share price and trading volume us in the short run Capitalists’ attitude to Bitcoin It is very important to explain.