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@ Layer3.news
2025-02-25 06:13:27
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BITCOIN COULD BE HEADED FOR $70K ‘GOBLIN TOWN’ ON ETF EXODUS: HAYES
https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDIvMDE5NGQ5MjEtNWZmNy03Njg3LWJkMGQtY2UzM2IzZjA0ODU0.jpg
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✍️ Large hedge funds are unwinding their positions in US Bitcoin exchange-traded funds, which could lead to a significant sell-off in Bitcoin, according to BitMEX co-founder Arthur Hayes.
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👉 Large hedge funds are unwinding their positions in US Bitcoin exchange-traded funds
👉 These funds are currently in profit and will sell their ETF shares and buy back short CME futures
👉 This could create a feedback loop where more funds rush to exit their positions, exacerbating the price decline
👉 Bitcoin could fall to $70,000 if these funds sell their ETF shares and buy back short CME futures
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#ArthurHayes #MarkusThielen #technology
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