#BTC_ANALYSIS #BTC on the way to come back i mean will dump soon after a little pumping , just wait , visit my previous posts and compare the market with my analysis , market run the same way 100% that i told you before the market entering that zone ,if you think that my analysis helpful for you then follow me and don't miss like The post $BTC
Bitcoin remains above $65,000 despite highest-ever GBTC outflows. GBTC outflows are occurring due to high fees and ETF competition. Bitcoin {{BTC}} is down 4% and trading above $65,000 as the selling of Grayscale Bitcoin Trust (GBTC) shares hit its highest level ever. According to data compiled by BitMEX research, outflow from GBTC hit $643 million on March 18. Bitcoin ETF Flow - 18 March 2024GBTC Outflow $643m — BitMEX Research (@BitMEXResearch) March 18, 2024 Data from investment firm Farside shows that there's a net outflow from bitcoin ETFs in general to the tune of $154 million. The iShares bitcoin ETF (IBIT) saw the most inflow of $451.5 million, while the remaining products had inflow of approximately $36.7 million. Since the launch of bitcoin exchange-traded funds (ETFs) earlier this year, there have been significant outflows from GBTC – which recently converted into an ETF – because of its higher fees. This selling puts pressure on the price of bitcoin. A recent note from CryptoQuant says that selling pressure is also coming from short term holders of bitcoin taking profit on recent gains. Over the last week bitcoin is down 8.5%, according to CoinDesk Indicies data, but remains up 27% over the past 30 days. Bitcoin 36.8k Views 39 Likes 8 Quotes 5 Shares 12 Replies Most Recent Most Relevant Rocco Polcyn hMOb
BTCUpdate If Bitcoin breaks the support of 60 thousand . So we all will see bitcoin at 50k to 52k support . And if Bitcoin moves above the 60 thousand support . And the candle closes above 65K . So the next move of bitcoin will be above 74 thousand