Join the pnandfriends trading community: https://linktr.ee/pnandfriends Subscribe: @PNandFriends It is the third day since the Ethereum ETF went live. So why is crypto tanking and ALTS getting hit hard?2 reasons. First the Total outflows are negative. While the ETH launch has seen higher-than-expected buying, the selling by the Grayscale ETF has been significantly larger. Second, they are selling much faster than anticipated. Grayscale sold $480 Million worth of ETH on Tuesday and $370 million wednesday. They hold about 7.8 Billion dollars worth of ETH in total. To put that in perspective they are selling about 5-7 percent of their holdings per day. Remember when everyone was panicking about Grayscale selling during the BTC ETF? Well this is MUCH higher. At this rate , ETHE will sell 100% of its ETH in like 15-20 days if it keeps up this pace. If Grayscale finishes selling, there will be no more ETF selling pressure. Yet, there is about $200-400 million in USD buying coming in from Wall Street ETFs per day. Join our discord to see our full coverage and where we think ETH and Alts are heading next! Link in bio P.N. & Friends Discord Pablo Heman’s Discord DISCLAIMER: This YouTube channel is for educational purposes only and should not be considered financial advice. Consult a financial advisor before making any financial decisions. Trading carries risk. Consider your investment objectives and risk tolerance before making any decisions.