🚀 Bitcoin is holding strong above $70K as Asia wakes up to trade, with traders keeping a keen eye on the Grayscale Bitcoin Trust (GBTC) outflows. Despite a hawkish CPI report and strong inflation data, Bitcoin only retraced to $67,000, showing resilience. 📈

Bettors on Polymarket are split on the number of rate cuts by end of 2024, with 26% betting on one cut, 28% on two cuts, and 21% on no cuts.

Interestingly, Bitcoin's recovery post-CPI announcement was quicker than gold or the S&P 500, indicating its growing strength as a hedge.

The GBTC outflows are at a record low of $18 million since the launch of the U.S. Bitcoin ETFs, signaling possible positive price implications. But, let's not jump the gun, we need more data to confirm this trend.

What are your thoughts on the GBTC outflows? Do you think it's a bullish sign for Bitcoin? Drop your thoughts below! 💭 #Bitcoin #CryptoNews