The Grayscale Bitcoin Trust (GBTC) has marked its lowest level of outflows on April 10, amounting to $17.5 million.
The GBTC outflows on April 10 were approximately 15 times less than the average daily GBTC outflows recorded over the past four months.
Outflows from the Grayscale Bitcoin Trust have hit a new record low, down almost 90% from the previous day, coinciding with a rebound in Bitcoin for March, which came in at 3.5% year-on-year. This led to worries that the Federal Reserveit could be the start of the slowdown in GBTC outflows, which have amounted to $16 billion in outflows since GBTC was converted to a spot Bitcoin ETF in January.
“GBTC selling over?” CEO of crypto-focused reviews portal Apollo Thomas Fahrer asked his 41,500 X followers in an April 11 Fahrer further pointed out that the April 10 outflows are equivalent to roughly 250 Bitcoin, almost a 95% decrease in outflows from the start of the week.The previous low was on Feb. 26 when GBTC outflowed $22.4 million. The daily GBTC outflows average across the four months is $257.8 million.
Fidelity Wise Origin Bitcoin Fund recorded $76.3 million in inflows, iShares Bitcoin Trust saw $33.3 million, Bitwise Bitcoin ETF saw $24.3 million, and ARK 21Shares Bitcoin ETF experienced inflows of $7.3 million.Bitcoin's halving won't see a 600% return this year — so adjust your strategy
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