Bitcoin

James

Coin

<ul class="news-points"> 
 <li><strong>On January 25, GBTC saw an outflow of $394 million,a notable decrease from the previous days’ outflows.</strong></li> 
 <li><strong>The net outflow of GBTC since its launch stands at $4.4 billion, according to a Bloomberg report.</strong></li> 
 <li><strong>JPMorgan predicts the conclusion of the profit-taking on GBTC and a further downside for Bitcoin.</strong></li> 
</ul> 
<p>The crypto community has been transfixed by massive outflows from <a href="https://coinedition.com/bitcoin-etfs-explained-everything-you-need-to-know/" target="_blank" rel="noreferrer noopener">Bitcoin exchange-traded funds</a> since their launch earlier this month. Reportedly, one of the biggest player in the space, Grayscale Investments, has experienced a net <a href="https://www.bloomberg.com/news/articles/2024-01-25/bitcoin-spot-etfs-saw-highest-net-outflows-since-trading-began" target="_blank" rel="noreferrer noopener nofollow">outflow</a> of more than $4.4 billion. However, investors may finally find solace as the GBTC outflow has been in decline for the past few days.</p>    
<p>James Seyffart, a Senior ETF Analyst at Bloomberg, revealed that over the last day, GBTC saw an outflow of $394 million, a notable decline from the previous two days. January 23 saw <a href="https://twitter.com/JSeyff/status/1750112206900109756" target="_blank" rel="noreferrer noopener nofollow">$515 million</a> and January 24 $425 million in outflows respectively.</p> 
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Officially have ~$394 million out of <a href="https://twitter.com/search?q=%24GBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$GBTC</a> today</p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1750658742037688809?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">January 25, 2024</a>
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  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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<p>Meanwhile, there are assumptions that the profit-taking on GBTC has almost concluded. In a…</p>
<p>The post <a href="https://coinedition.com/gbtc-outflow-dips-to-394m-from-high-of-640m/">Is The Bottom In? GBTC Outflow Drops For the Third Day, Reaches $394M</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

Is The Bottom In? GBTC Outflow Drops For the Third Day, Reaches $394M

Coin Edition

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