Bitcoin Under Pressure Amid $1.5B Potential Outflow from Grayscale's GBTC

By: Isha Das

The Bitcoin exchange value faces potential turbulence due to Grayscale's Bitcoin ETF, GBTC, outflows. An additional $1.5 billion could exit GBTC, leading to more pressure on Bitcoin prices. This outflow trend is occurring despite other funds seeing gains. Analysts have also observed that GBTC shares flipped to a 0.9% discount, indicating likely selling pressure. The crypto bull market experienced a loss of $217M, with analysts attributing these sales as a major contributing factor towards this downturn in Bitcoin.