Bitcoin (BTC)

Bitcoin Price Holds Above $70000 Despite Heightened GBTC Outflows Continue

Jasinth
By Jasinth
1 Min Read
Bitcoin Price Holds Above $70000 Despite Heightened GBTC Outflows Continue

Bitcoin (BTC) stays stable, trading at $70,680, while funds continue to flow out of the Grayscale Bitcoin Trust.

  • Some believe that GBTC outflows drive down BTC prices, but others disagree, noting that GBTC’s higher fees inevitably lead to outflows. Traders expect Bitcoin to remain stable in April, with Polymarket predicting a 60% likelihood of BTC reaching $75,000 and a 32% chance of touching $80,000 by the end of the month.
  • About $124.9 million left GBTC, while $4.6 million flowed into Fidelity’s FBTC, $11.1 million into Bitwise’s BITB, and BlackRock’s Bitcoin ETF (IBIT) had $192 million inflows. This week, Bitcoin ETFs saw a total of $227.9 million exit.
Image Source: CheckonChain (GBTC outflows in a week)

This article is for information or news purposes only and should not be considered trading or investment advice. Nothing herein should be interpreted as financial, legal, or tax advice. Trading cryptocurrency, forex and CFDs involves a significant risk of loss.

The information on this website is for information purposes only. The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. Crypto SA does not endorse or suggest you to buy, sell or hold any kind of crypto related product. Before making any financial investment decisions, you should seek professional advice from a qualified investment or financial adviser. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. Crypto SA is not liable for any financial losses incurred while trading cryptocurrencies. We do not recommend investing money you cannot afford to lose.

TAGGED:
By Jasinth
Jasinth is a creative and skilled crypto content writer with over three years of experience in the field. With a passion for writing and research, she has made a name for herself in the crypto community and financial market with her in-depth analysis and clear explanations of complex topics. She is also a literature enthusiast who loves beautiful clicks.
Previous Article Bitcoin Developer's Testnet Flaws Sparks Debate About Testnet Reset Bitcoin Developer’s Testnet Flaws Sparks Debate About Testnet Reset
Next Article MicroStrategy Prices Upsized $525M Debt Offering to Boost Bitcoin Holdings MicroStrategy Prices Upsized $525M Debt Offering to Boost Bitcoin Holdings

Latest News

Follow US