After the trading activity on Monday, which saw $ 642 million in transaction volume, Grayscale’s Bitcoin Trust sold off approximately 3,426.99 bitcoin, valued at around $ 147 million. Following Tuesday’s trading activity, GBTC offloaded an additional 2,565.39 bitcoin, valued at $ 110 million. Concurrently, Blackrock’s IBIT has acquired an additional 3,235.87 bitcoin, …
Global investment bank JPMorgan says that profit-taking from Grayscale’s bitcoin trust (GBTC) has largely happened already. “This would imply that most of the downward pressure on bitcoin from that channel should be largely behind us,” the bank’s analyst explained. JPMorgan’s Bitcoin Price Outlook Global investment bank JPMorgan weighed in on the crypto market again this […]
Global investment bank JPMorgan has warned of additional outflow from Grayscale’s bitcoin fund, cautioning that it will put “further pressure on bitcoin prices over the coming weeks.” The bank’s analyst also explained that the $ 3 billion inflow into new spot bitcoin exchange-traded funds (ETFs) “reflects a rotation from existing bitcoin vehicles” or “from …
The Grayscale Bitcoin Trust, commonly referred to as GBTC, has recently divested a considerable quantity of bitcoin. Records indicate that a total of 10,823.86 bitcoin, valued at approximately $ 447.40 million, was withdrawn from the holdings of GBTC in the span from Thursday to Friday morning. GBTC’s Bitcoin Cache Continues to Witness Outflows GBTC …
Recent data reveals that since the update on Grayscale’s website three days prior, the firm’s most recent figures indicate a significant reduction in its holdings, with over 11,189 bitcoin, valued at approximately $ 477 million, being withdrawn from GBTC’s reserves. Concurrently, the introduction of spot bitcoin exchange-traded funds (ETFs) by Blackrock, Fidelity, and other …