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On January 25th, Grayscale, a significant player in the cryptocurrency market, executed a notable transfer of Bitcoin, amounting to approximately 12,213 BTC. This transaction is valued at around $488 million, based on the current spot price of Bitcoin. Data sourced from Arkham Intelligence highlights this as a decrease from the transaction volumes observed on the previous day, underscoring the inherent volatility in Grayscale’s Bitcoin transfers. 
To put this in perspective, on January 24, Grayscale had transferred a larger sum of 19,236 BTC to Coinbase. The recent data from Arkham Intelligence suggests that since January 12, the total outflows from Grayscale’s fund to Coinbase Prime have reached 105,910 BTC, equivalent to about $4.168 billion. 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GEscon5bUAAm_ui?format=png&amp;name=medium" alt="Grayscale Bitcoin transfers to Coinbas" width="942" height="353" title="GBTC transfers 12,213 BTC to Coinbase as Bitcoin drops below $40,000 15">
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 Grayscale Bitcoin transfers to Coinbas
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</figure> 
As of now, Grayscale’s holdings in Bitcoin stand at 510,682 BTC, with an estimated value of $20.43 billion. This substantial holding reflects Grayscale’s significant impact on the cryptocurrency market, particularly in Bitcoin. 
<a href="https://crypto.ro/en/tag/gbtc/">The recent movements</a> of Bitcoin by Grayscale come amidst a broader context of market fluctuations. Notably, the price of Bitcoin dropped by 19% following the approval of the Bitcoin ETF, an event that might have contributed to the observed volatility in Grayscale’s Bitcoin transfers. This decline in Bitcoin’s price post-ETF approval highlights the sensitivity of cryptocurrency markets to regulatory and institutional developments.

GBTC transfers 12,213 BTC to Coinbase as Bitcoin drops below $40,000

crypto.ro global

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