You mean ETFs are going to sell once the price goes below $40k? I don't think they are going to sell for me; instead, I'm going to accumulate more because this is another chance to buy BTC in much cheaper price.
ETFs are big companies; they have some knowledge of any investment, and they know Bitcoin's history. So if we see BTC at a much cheaper price, this is another opportunity to make a huge profit if they keep holding it until the block halving.
However, based on the chart patterns and volumes, as well as the rainbow chart for Bitcoin, I do not believe we will see this $40k level again. The rainbow chart shows that this will not happen. That is why I pointed out that it is impossible to happen due to the current price action. If the price turns bearish this month, I can only see a retest to the $60k level or taking liquidity until $55k before turning bullish and retaking the $100k level.
Maybe you didn't understand my point clearly. I'm not saying they are going to sell or not but we have to understand that ETFs are not just holding Bitcoin because they believe in it, they are holding because investors buy ETF shares. So if by any chance there's a massive decline of price and investors want to redeem their shares during the price drop, ETF has no other option than to sell and meet up with redemptions. That's how it works.
For someone who is accumulating, a dip to 40k would definitely look like a gift from heaven.
