The chart shows the investment cost situation of BTC's spot ETF. According to the 13F report submitted last quarter, the current ratio is approximately 30% institutional investors and 70% retail investors, which means their average cost is around 82,000 US dollars.

Here, it is particularly important to note that if it were to completely break down, although most people buying spot ETFs tend to hold for the long term, there could still be some selling triggered. Just like the end of the previous seven months (the purple circle part) where there was a washout, a sharp price drop occurred after breaking down.

Of course, conversely, it can also be said that Wall Street's new whales are only willing to push up after washing out the most steadfast group. We can see the purple circle part, which is based on the spot ETF cost line as the median line, has been washed three times before starting a new round of significant market movement. So, will this time be the same?

Alright, then everyone can slightly remember this number 82,000, which is also a position I am currently paying some attention to. #巨鲸动向 #加密市场观察 #美联储降息