Bitcoin price remains stable despite negative outflows from GBTC trust-turned-ETF

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Cointime2024/04/12 06:40

By:Cointime

The Grayscale Bitcoin Trust (GBTC) experienced outflows of $124.9 million, while Fidelity's FBTC saw inflows of $4.6 million and Bitwise's BITB received $11.1 million. Despite the outflows, the price of bitcoin has remained stable, trading above $70,900. Some market participants believe that continued outflows from GBTC could put selling pressure on BTC and drive down prices, but others have a wait-and-see approach and note that outflows are expected from GBTC due to its higher fee structure. Traders are anticipating price stability for bitcoin in the remaining weeks of April, with a 60% chance of BTC hitting $75,000 and a 32% chance of it hitting $80,000 by the end of the month.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Coinomedia•2025/04/14 14:00