Bitcoin (BTC) remains steady, trading above $70,670, while money continues to move out of the Grayscale Bitcoin Trust (GBTC).
About $124.9 million left GBTC, contrasting with $4.6 million flowing into Fidelity’s FBTC, $11.1 million into Bitwise’s BITB, and out of all BlackRock’s Bitcoin ETF (IBIT) records $192 million worth of inflows. Bitcoin ETFs collectively saw $227.9 million exit this week.
Image Source: CheckonChain (GBTC outflows in a week)
Some think GBTC outflows push BTC prices down, but others disagree, noting GBTC’s higher fees naturally lead to outflows. Traders foresee Bitcoin stability in April, with predictions on Polymarket suggesting a 60% chance of BTC reaching $75,000 and a 32% chance of hitting $80,000 by month’s end.
Also Read: Grayscale Bitcoin Trust Outflows Hit Record Low of $17.5M
