James Van Straten

Lead Analyst @CryptoSlate | Previously @Saidler | #Bitcoin

[James Van Straten @btcjvs]

$IREN is up 80% in 5 days.
If #Bitcoin does a 5x, this will do multiples of that

[James Van Straten @btcjvs]

The number of #Bitcoin whales (1k+ #BTC) is increasing; the count has grown from 1,480 to 1,513, an 18-month high.

While whale withdrawals have been outstripping deposits for six consecutive days.

[James Van Straten @btcjvs]

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 @btcjvs]

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 @btcjvs]

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 @btcjvs]

More volume and liquidity coming for #Bitcoin.

Options one month before halving 👀

[MacroScope @MacroScope17]

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 @btcjvs]

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 @btcjvs]

Backwardation lasted all of 1 day
CME #Bitcoin futures now above the price of spot.

[James Van Straten @btcjvs]

If this is all the Grayscale boys have, send #Bitcoin to 50k with haste.

If we didn't go to 40k or below on Friday, with that capitulation, I struggle to see it, personally.

Loading up on #Bitcoin miners BrB

[James Van Straten @btcjvs]

We're starting to see a pattern of Grayscale redemptions to Coinbase Prime just before the market opens.

9k #Bitcoin ($387M) sent to Coinbase Prime all before 2:30 (GMT) Jan 16.
Jan. 12, 4k #Bitcoin before the market opened.

[James Van Straten @btcjvs]

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.

[James Van Straten @btcjvs]

October - December 2023: Buy the Rumour

Jan 2023: Pre-ETF Launch: Sell the news

Post ETF Launch: Continue selling the news

[James Van Straten @btcjvs]

https://t.co/zBiFgZBLo5

[James Van Straten @btcjvs]

Happy T+2 settlement data for all those celebrating #Bitcoin.

[James Van Straten @btcjvs]

Time to pump

[James Van Straten @btcjvs]

Friday was the largest one-day drop (7.5%) in #Bitcoin price since the FTX collapse back in November 2022.

[James Van Straten @btcjvs]

https://t.co/2ICPSWRWKh

[James Van Straten @btcjvs]

https://t.co/9Ro4gIt5Nt

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 @btcjvs]

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