The five successive days of $BTC outflow, driven by the Grayscale Spot ETF selling, have now been cancelled out by a $418 million inflow on Tuesday. It’s now just a matter of time before the Grayscale outflows diminish drastically, and the bitcoin buying picks up pace again.
For five straight days the Grayscale Bitcoin Spot ETF (GBTC) sold $BTC massively into the market, at the same time as inflows in the other 9 Spot Bitcoin ETFs dried up. What did the bitcoin price do? It went up.
Who else is buying bitcoin?
Much of the $BTC buying and selling focus is on the Spot Bitcoin ETFs, and Grayscale has sold more than $500 billion in $BTC since 11 January, which equates to nearly half of all the $BTC it held. What is amazing to think, is that this amount of $BTC has been sold in a matter of two months.
Despite the fact that the other Spot Bitcoin ETFs have bought dramatically more than this amount, (Tuesday saw a $418 million net inflow) it must be wondered who was buying over
We współpracy z: https://cryptodaily.co.uk/2024/03/bitcoin-etf-inflows-regain-strength-btc-trend-remains-up
