BTC ETF reflectionI think the biggest holders of BTC are intentionally stabilizing the value of BTC. Furthermore, they are intentionally stabilizing the volatility of BTC so that they can prove to US SEC that BTC is stable, not as volatile and manipulative as others who oppose this system state.
I know i'm reaching too far but think about it for a second. When they applied for BTC ETF back in january and Feb it got rejected for multiple reasons and as applicants discovered the reasons they disclosed the SEC's reasons for rejecting their application and as a result they started working on these issues.
Volatility is now low, they are improving security to protect the system from hackers and beginning to stablize the value of BTC to prevent price manipulation. These were among many other concerning factors/reasons as to why they denied their applications.
The fact that these big three factors have been controlled, recently, is a sign of filtering out the faults or porblems with BTC to get a BTC ETF approved, hopefully in November.
I expect kash to begin actively trading again around the .09-.12 range until BTC picks up over 7600 again.
Good luck to all