Bitcoin

Impact

Reversal

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/insights-on-bitcoins-market-dynamics-bollingers-prediction-and-grayscales-etf-impact" rel="noopener noreferrer nofollow">Insights on Bitcoin’s Market Dynamics: Bollinger’s Prediction and Grayscale’s ETF Impact</a><br></p>
<h2 id="john-bollinger-signals-potential-bitcoin-reversal">John Bollinger Signals Potential Bitcoin Reversal</h2>
<p style="text-align: justify">John Bollinger, the legendary creator of the Bollinger Bands indicator, has made a significant statement on social media suggesting that the selling pressure on <a href="https://en.bitcoinhaber.net/bitcoins-rally-signal-anticipation-of-etf-approval-sparks-market-excitement" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) may soon end, hinting at a potential reversal from the recent downtrend. This comes as Bitcoin showed an impressive rally on January 26, surpassing the $42,000 level, exciting crypto investors despite a slight pullback to $41,429.</p>
<p style="text-align: justify">While Bitcoin has not maintained its peak, trading at $41,858 in the last 24 hours indicates a 1.5% increase, signaling a possible continuation of the recovery. Bollinger’s analysis of the current Bitcoin situation points to an imminent easing of the strong selling pressure that has hampered the cryptocurrency’s rise.</p>
<h2 id="continued-bitcoin-outflows-from-grayscale-s-gbtc">Continued Bitcoin Outflows from Grayscale’s GBTC</h2>
<p style="text-align: justify">The approval of 11 spot Bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC) on January 10 led to a surge in Bitcoin’s price to $49,000. However, the initial excitement was short-lived as a sharp decline followed, largely triggered by significant outflows from Grayscale Investment’s GBTC after its conversion to a spot ETF.</p>
<p style="text-align: justify">Investors in GBTC, facing high fund management fees compared to alternatives, began selling their shares to transition to spot Bitcoin ETFs issued by BlackRock, Fidelity, VanEck, Ark Invest, and other Wall Street hedge funds. The end of the mandatory lock-up period during the spot ETF approval caused a wave of exits from GBTC, with Grayscale Investment itself also selling substantial amounts of Bitcoin.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/insights-on-bitcoins-market-dynamics-bollingers-prediction-and-grayscales-etf-impact" rel="noopener noreferrer nofollow">Insights on Bitcoin’s Market Dynamics: Bollinger’s Prediction and Grayscale’s ETF Impact</a></h5>

Insights on Bitcoin’s Market Dynamics: Bollinger’s Prediction and Grayscale’s ETF Impact

Table of Contents

BH NEWS

Other articles published on Jan 27, 2024

Pepe Makes Important Clarification on Strange PEPE Token Transactions

Revolutionary new Kelexo (KLXO) storms the market with Pushd (presale) at $0.022. Ethereum (ETH) ...

Ben Armstrong Affirms HEX Is Not A Scam Amid SEC Case, HEX Price Jumps 7%

Analyst Says Bitcoin (BTC) Price Most Likely Hit Bottom Already, Here’s Why

E-commerce Venture in the Age of Web3

GBTC outflows slow, signalling possible rebound; $GFOX set for major rally

Join our free newsletter for daily crypto updates!