Bitcoin’s Rollercoaster Ride: From $35k highs to $33.8k dips
Early this morning, Bitcoin hit a nifty $35,157—its highest splash since last May. But, like a teeter‑totter, it slipped back to about $33,783 by 7:15 am, still a modest 2.5 % up from the week‑old baseline.
Other Coins Take a Stand‑In with the Buzzer
- Ethereum pushed past the $1,850 mark for the first time since August.
- Solana broke the $32 threshold, riding the yesterday’s boom.
Spot‑ETF Hope is the Spark
Money‑lovers are buzzing because the world’s biggest asset manager, BlackRock, just filed its iShares Bitcoin Trust on the DTCC (symbol IBTC). No guarantee it’s launched yet, but it feels like a green light in the investor’s eyes.
SEC’s Reluctant Movements
The Securities and Exchange Commission might finally stop insisting it’ll fight any court ruling re‑grabbing the Grayscale Bitcoin Trust (GBTC) into a spot ETF. Last Friday saw the GBTC discount dive to an 11 % low—never seen since 2021.
Short‑Position Liquidation on Full Throttle
- Yesterday, a whopping $161 million of short bets got called back.
- Today added another $36 million—sum total of $177 million in 24 hours.
When short sellers cover, they buy back Bitcoin, pushing the price higher—just like a pop‑pop tankfull.
Crypto Products Still Flourish
CoinShares reported four straight weeks of positive net flows into crypto‑related funds, roughly $66 million per week. Bitcoin alone snagged about $55 million, driving its cumulative inflow to a cool $315 million since the start of 2021. Meanwhile, short‑Bitcoin funds dipped from $23 million to just $1.7 million.
Reality Check: Are These Gains Shameless?
Despite the bulls, short positions dominate Bitcoin—52% of total positions, about $6 billion against $5.5 billion in long bets. ETFs are still pending, and the SEC may keep delaying decisions. Regulatory headaches linger—no sign of a swift clean‑up.
When Bitcoin rode over $35k, many big players had collapsed, shaking confidence. Those fears haunt us still. So, speculating that Bitcoin will jump happily to $100k or beyond is a bit like chasing a mirage: think responsibly and back it with solid evidence.
Final Thought
Even if spot ETFs launch, no direct proof that institutional or retail investors will flood them. Crypto still needs to rebuild trust—shedding doubts, answering critics, and proving it’s a reliable, safe hub for money.
