Bitcoin ETF

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<p>The post <a href="https://coinpedia.org/news/grayscales-100000-bitcoin-sell-off-end-is-this-a-sign-of-bitcoin-bouncing-back/">Grayscale’s 100K Sell-Off Shakes Bitcoin: Can the Price Recover?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In a significant development within the crypto space, <a href="https://coinpedia.org/price-analysis/will-bitcoin-price-crash-again-grayscales-335m-coinbase-transfer-sparks-concern/">Grayscale</a>, a major player in crypto asset management and a key issuer of <a href="https://coinpedia.org/news/bitcoins-etf-boom-30x-more-impact-than-halving/">Bitcoin Spot ETFs</a>, recently completed the sale of a substantial 100,000 BTC. This strategic move has not only showcased Grayscale’s influence but has also significantly affected Bitcoin’s trajectory, causing it to drop to a 3-month low of $38,240.</p> 
<p>Read on about this.</p> 
<h2 class="wp-block-heading" id="h-unloading-100-000-btc"><strong>Unloading 100,000 BTC</strong></h2> 
<p>Grayscale Investments, a prominent entity in the crypto industry, observed a noteworthy reduction in its spot Bitcoin ETF holdings due to this move. The sale, totaling approximately $3.98 billion, resulted in a 22% decrease in the firm’s assets, dropping from 619,220 BTC to around 519,220 BTC.</p> 
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   <p lang="en" dir="ltr">Grayscale have sold 100,000 Bitcoin. The selling is almost done!</p>— Ran Neuner (@cryptomanran) <a href="https://twitter.com/cryptomanran/status/1750030684553425320?ref_src=twsrc%5Etfw">January 24, 2024</a>
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<p>As spot Bitcoin ETFs continued trading post-approvals, the market experienced significant downturns triggered by a notable contraction in reserves following Grayscale’s Bitcoin sell-off. As anticipated, Bitcoin retreated to the $38,500 support level.</p> 
<p>Remarkably, Grayscale’s reduction in Bitcoin holdings accounts for a significant 60% of the reserves collectively held by nine recently established Bitcoin trading companies. Market attention is now on these emerging players as speculation surrounds the depth of their reserves.</p> 
<p>Read More: <a href="https://coinpedia.org/news/not-all-approved-spot-bitcoin-etfs-will-survive-says-grayscale-ceo/">Not All Approved Spot Bitcoin ETFs Will Survive : Says Grayscale CEO</a></p> 
<h2 class="wp-block-heading" id="h-bitcoin-rebound-on-the-way">Bitcoin Rebound on the Way?</h2> 
<p>Some industry experts present a contrarian perspective, suggesting that Grayscale’s substantial sell-off might pave the way for a Bitcoin price recovery. Despite Grayscale’s massive sales, other ETFs, excluding Grayscale, observed an inflow of 108,117 BTC, indicating ongoing net inflows even after Grayscale’s sell-off.</p> 
<p><a href="https://coinpedia.org/news/ripple-news-top-reasons-why-blackrock-has-no-xrp-etf-launch-plans/">BlackRock’s</a> iShares spot Bitcoin ETF, holding a significant reserve of 39,925 BTC, emerged as the second-largest holder after Grayscale. Its substantial holdings are seen as a potential buffer, helping alleviate the selling pressure triggered by Grayscale’s sell-off.</p> 
<h2 class="wp-block-heading" id="h-future-outlook">Future Outlook</h2> 
<p>Amidst this market turbulence, industry analysts anticipate a surge in institutional interest in Bitcoin, particularly post-SEC’s ETF approval. The upcoming halving event, poised to cut miner sales in half, adds another layer to the narrative. With ETF-supported supply scarcity in the cards, speculators suggest that Bitcoin prices could see an upward trajectory by 2025.</p> 
<p>As of the latest update, Bitcoin’s price hovers at <a href="https://markets.coinpedia.org/bitcoin/?_gl=1*18v2y5o*_ga*NTQzNDc3MzQ4LjE2OTcxODMzODc.*_ga_RE1GG3FGQW*MTcwNjA3NDQwOC44My4xLjE3MDYwODI3NTQuMC4wLjA.">$39,981</a>, reflecting a marginal 0.6% drop in the last 24 hours and a 7% decrease in the past seven days.</p> 
<p>This Might Interest You: <a href="https://coinpedia.org/news/weekly-spot-bitcoin-etf-report-insights-after-its-first-trading-week/">Weekly Spot Bitcoin ETF Report: Insights After Its First Trading Week</a></p>

Grayscale’s 100K Sell-Off Shakes Bitcoin: Can the Price Recover?

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