10x Research founder: The average entry price of Bitcoin ETF is $60,000-61,000, and 30% of inflows are metal basis trading
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Odaily Odaily News 10x Research founder Markus Thielen said that the estimated average entry price of Bitcoin ETFs is $60,000 to $61,000, and retesting this level may trigger a wave of liquidations. In addition, 30% of the inflows belong to a non-directional arbitrage strategy, namely basis trading, rather than direct bullish bets. Markus Thielen added: "When Bitcoin fell to $56,500 on May 2, BlackRock claimed that 'sovereign wealth funds and pension funds' were coming, which helped to stop the decline, but now BlackRock says that 80% of the Bitcoin IBIT ETFs they bought were from retail investors, not institutions." (Coindesk)
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