"Bitcoin starts the Asian trading day hovering above $70K. 🚀 It's too early to tell whether GBTC's slowing outflows will be a positive sign for Bitcoin's price. 🤔

Bitcoin looks to extend Wednesday's gains as it digests higher-than-expected US CPI and slowing outflows from GBTC. 📈

Some market participants note that Bitcoin prices are responding positively to slower outflows from GBTC. However, we need to see a few more dates to find out if GBTC outflows are an insignificant amount because they have a higher fee than other ETFs. 🧐

Let me know what you think in the comments!#Bitcoin#DeFi #Web3"