Grayscale Bitcoin Trust

<ul class="news-points"> 
 <li><strong>Kaiko revealed in an X post that the GBTC discount is at its most narrow in years.</strong></li> 
 <li><strong>According to the post, the GBTC discount stands at just 8% ahead of the possible ETF conversion.</strong></li> 
 <li><strong>Technical indicators on GBTC’s daily chart suggested that its price may continue to rise in the next few days.</strong></li> 
</ul> 
<p>The blockchain intelligence platform Kaiko revealed in an X (formerly Twitter) post yesterday that the Grayscale Bitcoin Trust (GBTC) discount is at its most narrow in years. According to the post, the discount stands at just 8% ahead of GBTC’s potential exchange-traded fund (ETF) conversion.</p> 
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   <p lang="en" dir="ltr">The GBTC discount is at its most narrow in years, at just 8% ahead of a possible ETF conversion<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/7sFBduTf2m" target="_blank" rel="nofollow">pic.twitter.com/7sFBduTf2m</a></p>— Kaiko (@KaikoData) <a href="https://twitter.com/KaikoData/status/1732030606396031272?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">December 5, 2023</a>
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<p>Meanwhile, data from TradingView shows that GBTC was up 4.35% and stood at $35.10 at press time. This was after it was able to rise above the major resistance level at $32 over the past 72 hours. Should this bullish momentum continue, GBTC could rise to as high as $40.15 in the next few days.&nbsp;</p> 
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   <em>Daily chart for GBTC (Source: <a href="https://www.tradingview.com/x/QoBFy5Vp/" target="_blank" rel="nofollow">TradingView</a>)</em>
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<p>This bullish thesis will be invalidated if GBTC closes a daily candle below the …</p>
<p>The post <a href="https://coinedition.com/gbtc-discount-narrows-as-bulls-continue-to-drive-its-price/">GBTC Discount Narrows as Bulls Continue to Drive Its Price</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

GBTC Discount Narrows as Bulls Continue to Drive Its Price

Coin Edition

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