GBTC, Grayscale’s Bitcoin ETF, started to see exits after the decline. With Bitcoin’s decline of $ 66,000 today, the positive outlook at the end of 4 days in GBTC has been replaced by a negative one. According to the data, while there was an inflow of +179 million dollars on March 28, there was an outflow of -88 million dollars with today’s decline.
Outflows in Grayscale Bitcoin ETF Hit 88 Million
After Bitcoin’s decline of more than 5 percent today, Grayscale Bitcoin ETF investors changed their attitude from selling. While the total value of the outflows with the decline came to $ 88 million, GBTC investors in the Bitcoin ETF showed their distrust. While the bearish move in BTC painted the entire market in the red, many altcoins were unable to maintain the price levels they gained.
The attitude of GBTC investors can be read even more clearly in Spot on Chain’s post on X.
The data shared by Spot on Chain revealed that GBTC investors switched from long buying to selling. This attitude of Grayscale, which keeps its portfolio up to date by making sales in every decline, is read as distrust by crypto investors and causes a reaction.
While many cryptocurrencies, especially Ethereum, lost value after today’s 5 percent drop in the cryptocurrency market, analysts shared their comments on the situation and tried to give investors an idea of what the main direction in the market is.
You can freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram ,YouTube and Twitter channels for the latest news and updates.