Lead Analyst @CryptoSlate | Previously @Saidler | #Bitcoin
London
Joined January 2011
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James Van Straten retweeted
I've sat on my hands for 4 years, it could be a few years more, but I expect the drop to accelerate as cuts arent coming.
James Van Straten retweeted
Nearly $2 billion (44,800 BTC) in dormant #Bitcoin moves after five years.
The last significant revival occurred in Feb. 2022 (Ukraine War), with 95,000 Bitcoin.
The transactions happened around 1:30 GMT, just before the US market opened.
James Van Straten retweeted
GBTC total outflows are now at $1.18 billion vs. spot #Bitcoin ETF inflows of $2B.
It would be extremely encouraging if we continued this pace for the first month of trading.
Grayscale now holds circa 587k - 617k #Bitcoin, depending on source.
James Van Straten retweeted
More volume and liquidity coming for #Bitcoin.
Options one month before halving 👀
This is a filing to be able to list options on spot bitcoin ETFs. All three exchanges had to file a 19b-4 (here we go again lol). Earliest approval in 2mo-ish. Commodity trusts like $GLD et al had to do the same thing. Options will likely be a big hit on these given the volatility. Will update as we hear more but no way am I going to track this with same obsession, just typing "19b-4" just now gave me a little PTSD.
James Van Straten retweeted
My post-approval outlook for BTC's price in coming months and years is in previous tweets. Just to add: We know there will be a dip at some point after approval. Could be a day afterwards or a week, and the extent is hard to predict, but it should surprise no one. But here's what to watch for: Once that dip stabilizes, the next upward move could be a ripper. Billions in funds will be watching for the turn, looking to time it exactly, and the mentality on desks is that it would be inexcusable to miss it without allocating at least a starter position.
Again, see my previous tweets for the bigger picture on price.
James Van Straten retweeted
For me google trends = retail interest
So retail got in post #Bitcoin ETF approval, market fleeced them during the first two trading days.
They are now nowhere to be seen.
James Van Straten retweeted
Backwardation lasted all of 1 day
CME #Bitcoin futures now above the price of spot.
James Van Straten retweeted
One of the fears I had with the introduction of #Bitcoin ETFs, it would start to correlate back to tradfi assets, similar to 2022. As it becomes a mainstream asset.
#Bitcoin is at the highest correlation with the Nasdaq since May 2023, while at the biggest inverse correlation to the DXY in the same time period.
The only way #Bitcoin breaks this is through price discovery (self-custody) or serious ETF inflows.
The DXY often increases during an election year, as evidenced by its history of rallying in 9 out of 14 such years. This trend, while not a guarantee of future performance, suggests an interesting pattern.
You know what a $US rally means for risk assets, right?
James Van Straten retweeted
October - December 2023: Buy the Rumour
Jan 2023: Pre-ETF Launch: Sell the news
Post ETF Launch: Continue selling the news
James Van Straten retweeted
Happy T+2 settlement data for all those celebrating #Bitcoin.
James Van Straten retweeted
Friday was the largest one-day drop (7.5%) in #Bitcoin price since the FTX collapse back in November 2022.
James Van Straten retweeted
cryptoslate.com/why-etfs-are…
This is a great deep dive into the mechanics of the #Bitcoin ETF.
How #Bitcoin is valued for ETF purposes.
How #Bitcoin gets into an ETF.
OTC Trading and its implications
Ultimately, I was naive about how the ETF would be structured. The SEC has not acted in the best interest of retail.
In-Kind will happen sooner rather than later.
#Bitcoin fundamentals will trump any OTC/ETF shenanigans.
James Van Straten retweeted
I just paid my first self-assessment for tax in the UK, other than feeling absolutely fleeced.
I did it with chat gpt with no accountant. I then ran the numbers in the HMRC portal, and GPT had an error rate of 3.3%.
That is phenomenal; something that cost me £20 a month has replaced someone that cost £100,000 a year.
Goodbye accountants