CryptosRUs recently shared key insights into the latest happenings in the crypto and financial world, highlighting the unexpected developments surrounding Roaring Kitty and Bitcoin. The CoinSpeech team collected the most important takeaways from his recent appearance. You can find CryptosRUs’s new video below.
Roaring Kitty’s Live Stream Fails to Deliver
The much-anticipated live stream from Roaring Kitty, the famed investor behind the GameStop phenomenon, turned out to be a massive letdown. Despite the anticipation, with over 500,000 people waiting for his stream, he said “absolutely nothing about GameStop” or his investment moves. The only notable occurrence was the disappointment that “the stock went down even more,” losing 40% and another 4% after-hours.
Fans and followers were expecting some actionable insights or strategic moves from Roaring Kitty, but were left in despair. CryptosRUs commented that some fans believe it might be “a ploy by a genius” and that he might have “something else planned behind the scenes.”
Bitcoin’s Unexpected Drop
In a surprising twist, Bitcoin saw a sudden drop almost corresponding with the timing of Roaring Kitty’s disappointing live stream. However, CryptosRUs clarified that the fall was likely due to “a quick shakeout” and “not related to Roaring Kitty.” He explained that the market saw significant long positions being liquidated, leading to billions of dollars in losses.
Despite this, he assured viewers that Bitcoin’s Bull Run is far from over. “It’s just a matter of time… we have seen this many, many times before.” He reiterated the resilience of Bitcoin, suggesting that it soon would recover.
Institutional Interest Remains Strong
A significant highlight is the continued robust institutional interest in Bitcoin. “We still had $131 million of Bitcoin flowing into the ETFs” even after the market’s downturn. For the entire week, nearly “$1.8 billion worth of bitcoin” has been accumulated by ETFs, showcasing the growing institutional demand.
BlackRock now leads the pack, surpassing Grayscale, and CryptosRUs predicted, “Pretty soon you’re going to see BlackRock holding $600,000 Bitcoin.” He emphasized that ETFs are not going to stop buying, noting that countries around the world are increasingly adopting Bitcoin spot ETFs.
Altcoins and Metaverses
Altcoins experienced a slight dip in correlation with Bitcoin’s fall. CryptosRUs pointed out that “altcoin season is not really here yet.” Certain altcoins like BNB and Toncoin showed resilience, but overall the altcoin market remains subdued.
Regarding metaverses, he mentioned prominent projects that continue to build and innovate. For instance, McDonald’s is developing a metaverse in Singapore called “My Happy Place”. Other noteworthy mentions include Sandbox raising $20 million and ongoing metaverse development in Cardano’s Cornucopius.