😱 Grayscale Sells Bitcoin
Since the crypto market has begun a correction, the GBTC cryptocurrency ETF market is seeing a noticeable outflow of assets into amounting to $594 million.
🗣 At the same time, Grayscale is making a strategic move by transferring 9,840 BTC, worth $418 million, to Coinbase Prime for sale, with Grayscale's total BTC sales in the last couple of days, amounted to $1.3 billion.
📉 This led to BTC falling to a local minimum at $40,300. However, Ash Crypto predicts that selling pressure will ease over the next 1-2 weeks, suggesting that funds from GBTC may move into other ETFs. And once the outflow stops, demand for ETFs will lead to new Bitcoin growth.
