Bitcoin

Grayscale Bitcoin Trust

Rise

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-struggles-as-whales-influence-market-and-etf-outflows-rise" rel="noopener noreferrer nofollow">Bitcoin Struggles as Whales Influence Market and ETF Outflows Rise</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoins-volatile-climb-and-industry-confidence" rel="noopener noreferrer nofollow">Bitcoin</a>‘s recent market performance has been characterized by uncertainty and potential bearish signals. Following the opening of Wall Street on April 9, the <a href="https://en.bitcoinhaber.net/visa-partners-with-transak-to-enhance-crypto-fiat-transactions" rel="noopener noreferrer nofollow">cryptocurrency</a> faced the risk of further price drops, with the <a href="https://en.bitcoinhaber.net/bitcoins-resurgence-analyst-predicts-potential-spike-to-49000" rel="noopener noreferrer nofollow">BTC</a>/USD pair slipping below the $69,000 threshold. Despite efforts to push towards the record high of $73,800, bullish momentum appears to be waning.</p>
<h2 id="analyzing-whale-activity-and-its-impact">Analyzing Whale Activity and Its Impact</h2>
<p style="text-align: justify">Market analysis from Material Indicators has pointed to Bitcoin whales strategically aiming to suppress prices to establish lucrative long positions in the futures market. This behavior seems to be timed around significant economic reports like the upcoming U.S. Consumer Price Index (CPI) data release. Higher-than-expected inflation figures could trigger an extended price dip, although whales might exploit this scenario to profit from a subsequent price recovery.</p>
<h2 id="etf-dynamics-add-to-bitcoin-s-woes">ETF Dynamics Add to Bitcoin’s Woes</h2>
<p style="text-align: justify">In the realm of Bitcoin exchange-traded funds (ETFs), there’s notable distress as well. The Grayscale Bitcoin Trust (GBTC) experienced a substantial $200 million outflow, with additional data indicating a continuation of this trend. Over recent weeks, the GBTC outflows have reached an approximate value of $434 million, equivalent to 6,200 Bitcoin, marking a significant withdrawal in terms of dollar value.</p>
<h2 id="considered-points">Considered points</h2>
<ul>
 <li>Bitcoin whales may be exerting downward pressure on prices to prepare for advantageous future trades.</li>
 <li>The U.S. CPI announcement could serve as a catalyst for further Bitcoin price movements.</li>
 <li>Grayscale Bitcoin Trust (GBTC) is witnessing substantial outflows, potentially implying reduced investor confidence.</li>
</ul>
<p style="text-align: justify">The current trajectory of Bitcoin is closely tied to whale activities and macroeconomic indicators, which could lead to further volatility. Observers and investors alike are keeping a close eye on these developments to gauge the market’s next move.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-struggles-as-whales-influence-market-and-etf-outflows-rise" rel="noopener noreferrer nofollow">Bitcoin Struggles as Whales Influence Market and ETF Outflows Rise</a></h5>

Bitcoin Struggles as Whales Influence Market and ETF Outflows Rise

Table of Contents

BH NEWS

Другие статьи, опубликованные 9 апр. 2024 г.

Hurdles for Dogecoin to achieve $0.30, AI altcoin eyes leadership over Render

91% Of Stage 6 Presale Completed for Licensed A.I Exchange Token Priced at $0.032, Cardano (ADA) ...

Security Flaw Detected in Telegram by CertiK

TRON & Bitcoin Advocates Discover Raffle Coin’s Gem – 30X Returns Predicted as Presale Enthusiasm...

Decentralized dilemma: Could Ethereum survive if SEC ruled ETH a security?

The SHIB whales in action, a tidal wave in the crypto market!

Join our free newsletter for daily crypto updates!