Grayscale's Bitcoin Trust (GBTC) experienced substantial outflows, notably transferring significant BTC amounts to Coinbase Prime, impacting Bitcoin's market dynamics. These movements, part of the ETF conversion, reflect a complex interplay between institutional decisions and cryptocurrency valuations.
JoyDespite GBTC's significant outflows and concerns about market absorption, Bitcoin manages to maintain support at $40,000. The market remains uncertain, with conflicting forecasts from analysts and traders.
SanyaBitcoin ETFs achieved a remarkable $10 billion in trading volume in three days, outperforming traditional ETFs. Despite success, GBTC faced substantial outflows, with IBIT emerging as a potential leader.
Huang BoJPMorgan analysts forecast potential outflows of over $2.7 billion from the Grayscale Bitcoin Trust (GBTC) upon its conversion to an ETF, citing traders' speculative accumulation driven by the discount to net asset value.
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EspressoDigital asset investment products saw outflows of $63 million.
BeincryptoCME futures data combines with numbers from derivatives platforms to suggest that investors are getting less fearful.
CointelegraphThe discount brokerage has seen a sharp decline in crypto-related revenue over the past 12 months as retail investors exited the market.
CointelegraphThe discount brokerage has seen a steep decline in crypto-related revenue over the past 12 months as retail traders exited the market.
Cointelegraph