Looks Like Bitcoin (And the Rest of the Market) Is Set to Flip Bullish Again…

TL;DR

• The Grayscale BTC ETF hit a new single day low for outflows (-$17.5M), indicating the bleeding may well be ending (which should help to elevate BTC’s price!).

Full Story

Alright, let’s finish the week off on a positive note, shall we?

The Grayscale Bitcoin ETF is the problem child of the crypto space right now, in that its high fees continue to incentivize share holders to sell off large swaths of Bitcoin, and move their money elsewhere.

Day in, day out: all we’ve really seen from the Grayscale ETF’s inflows is blood red figures.

And this continued sell pressure has helped to keep Bitcoin’s price stuck between ~$65k-$70k these past few weeks…

The good news is:

As of yesterday, the Grayscale ETF hit a new single day low for outflows (-$17.5M), which indicates the bleeding may well be ending.

With the halving just around the corner, and the net inflows of cash moving into the Bitcoin ETFs flipping positive…

Things are starting to look bullish again!