₱ⱤØⱠł₣ł₵ JØł₦₮Ⱬ on Nostr: IT OUR Time To Shine let's see if #Bitcoin is really what all you say it is ! 👀 ...
IT OUR Time To Shine let's see if #Bitcoin is really what all you say it is ! 👀
Bitcoin ETFs had a record week of inflows with $1.8bn. But, why is the price going nowhere?
Well, here's an interesting theory....
Could it be an expansion of the cash & carry trade? i.e., large funds are shorting futures and buying spot through the ETFs.
Given that this is a delta neutral trade, the net effect on the spot market of the ETFs buying is null.
CME futures open interest is near record highs (thanks to a combo of outright futures & leverage funds). Therefore, the sellers of those futures would be looking to delta hedge and earn the carry.
This could be one of the only reasons why these flows didn't move the needle.
#🌝 #Bitcoin #GSBAM
Published at
2024-06-08 16:07:03Event JSON
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"content": "IT OUR Time To Shine let's see if #Bitcoin is really what all you say it is ! 👀 \n\n\nBitcoin ETFs had a record week of inflows with $1.8bn. But, why is the price going nowhere?\n\nWell, here's an interesting theory....\n\nCould it be an expansion of the cash \u0026 carry trade? i.e., large funds are shorting futures and buying spot through the ETFs. \n\nGiven that this is a delta neutral trade, the net effect on the spot market of the ETFs buying is null. \n\nCME futures open interest is near record highs (thanks to a combo of outright futures \u0026 leverage funds). Therefore, the sellers of those futures would be looking to delta hedge and earn the carry. \n\nThis could be one of the only reasons why these flows didn't move the needle.\n\nhttps://image.nostr.build/53514ffd560818d6c582fd3701cc3ab3956aab45193506e95669e3eec4d2d763.jpg\n\n#🌝 #Bitcoin #GSBAM \r\n\n",
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