Last week, the prices of the Bitcoin (BTC) Fund (ETF) in Blackrock (ETF) decreased by more than 11 %, with sizes reaching the highest level since mid -November, according to the TRADINGVIEW data source.
More than 331 million ETF shares, which are trading under the IBIT index on the Nasdaq Stock Exchange, changed its hands as the price of the fund decreased to the support of January of $ 50.69, eventually to $ 46.07, the lowest level since early November.
This may be a development of disappointment for bulls. For decades, one of the basic rules in the market was that price movements should be validated by the trading volume. This means that conducting the landfill is considered to have legs when it is accompanied by a noticeable increase in the number of shares or contracts traded on the stock exchange.
In addition, data from Farside investors Investors showed more than $ 1 billion from ETF with price sliding and decreasing CME contracts, which represent the return on DealsSelling panic. The last ten investment funds circulating in the United States are also bumping money.
However, IBIT is still the largest ETF in the world, with $ 39.6 billion of management assets.
The trading volume was chosen last Tuesday, as IBIT erupted from horizontal support at $ 50.69 to indicate more losses in the future.
Technical expectations remain declining while prices are less than the previous support that has turned into resistance.
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