Cooki's Corner

the conviction of ETF buyers have not been tested, these are weak hands if I've seen them

lower

$2.6B of outflows for bitcoin etfs this week, by far the largest ever

src: https://t.co/jW6Of0S51K https://t.co/3GvZbkZhXR

hildobby

the conviction of ETF buyers have not been tested, these are weak hands if I've seen them

lower

https://x.com/hildobby_/status/1895787856431575543

Solidity Engineer | Researcher | Onchain Degen | DMs Open | https://github.com/0xCooki

Genart collector. Tinkerer. Investor. Crypto maximalist. Nomadic traveler w/ my wife and 3 kids. Temporarily settled-ish in Spain

agree that the institutions are generally playing a different game

also agree that retail will buy the dips like we’ve seen from 105 to 85, but if it went back 45 i think they’d panic sell en masse.

It’s relatively easy to buy the 20/30% dips, but buying a 70% drawdown after all your previous purchases are underwater requires genuine conviction. I maintain I don’t think the conviction of the ETF holder base has been tested. 

I know there’s lots of true believers who own the ETFs in their retirement accounts, i’m not talking about them, I’m talking about the folks who have never owned BTC before the ETFs because it was too hard/confusing/scary/different, those people have the weak hands imo

Generally ETF hodlers will be excited to DCA into the dips. Much of the retail in ETFs will be on autopilot. 

The large moves are probably institutions playing a different game…

Still holding my BTC and ETH ETFs in my Roth account. Freaking loser paper hands can't handle the fun.