Bitcoin at $62K, Two-Day ETF Outflows, No Relief in Sight for Grayscale GBTC Sell-Off
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Bitcoin Spot ETF Outflows for Two Consecutive Days
GBTC Sell-off Continues
Bitcoin Faces Halving, ETF Cooling, and War
Bitcoin Spot ETF Outflows for Two Consecutive Days
SoSo Value
Data shows that the Bitcoin Spot ETF has experienced net outflows for two consecutive days, with a total outflow of $36.67 million on April 15th.
The data for various ETFs on April 15th is as follows:
Grayscale GBTC: -$110 million
BlackRock IBIT: $73.4 million
Bitcoin Spot ETF Flow
GBTC Sell-off Continues
Previously, on April 10th, Grayscale GBTC experienced a net outflow of only -$17.5 million, reaching a historic low. This was seen as a sign that the GBTC sell-off had ended. However, in the following three days, GBTC outflows continued to exceed $100 million:
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4/11: $124.9 million
4/12: $166.2 million
4/15: $110.1 million
The CEO of Grayscale also stated last week that he believes GBTC outflows have reached a certain balance.
(Grayscale CEO: GBTC outflows gradually balanced, expected to reduce fees)
Daily GBTC Outflows
Bitcoin Faces Halving, ETF Cooling, and War
On April 13th, Bitcoin plummeted to a low of $60,000 and was around $62,840 at the time of writing, with a decrease of approximately 11.67% since April.
The decrease was mainly triggered by the attack on Israel by Iran. However, Bitcoin has struggled to regain stability above $70,000 due to factors such as declining spot ETF inflows and the upcoming halving.
Related news as follows:
Iran Launches Drone Attack on Israel, Bitcoin Price Plunges to 60K
Israel Holds off Retaliatory Strikes Against Iran, Market Concerns Subside, Bitcoin Returns to 65K
Bitcoin Falls to 66K, Market Sees $900 Million in Liquidations! Analysts: Miners Sell $500 Million in Inventory, Low Market for the Next Six Months
BTC/USDT Daily Chart | OKX
GBTC
Bitcoin Spot ETF
Grayscale
Related Reading
Sell-off Over? GBTC Net Outflows Reach Historic Low, Bitcoin Rebounds to 71K
Grayscale CEO: GBTC Net Outflows Gradually Balanced, Expected to Reduce Fees
