This last 20 mins sell off in btc feels etf related. The etfs are making btc more price reflexive, not less. inflows when price goes up - outflows when price goes down.

Bitcoin is 23% off its all-time high. So why does it feel worse than it is? 👉This is the second longest run of RED weekly candles in Bitcoin history! Both times were deep into a bear market. pic.twitter.com/CHeFykJMx1

JUST IN: 🩸More than $160m in leveraged Bitcoin positions wiped out in the last 24 hours pic.twitter.com/tCg9ZR23QU

NEW: Crypto valuations pulled back in April 2024 but industry trends remained broadly favorable. Highlights included: 🅱️ The #Bitcoin halving 📢 #Ethereum rumbles 🏛️Legislative progress 🪙Stablecoins' market cap rose Read our recap for deeper analysis: www.grayscale.com/research/market-commentary/april-2024-crypto-tailwinds-macro-headwinds pic.twitter.com/zUx5NaAfM2