According to Odaily, ByteTree founder Charlie Morris recently shared on X that the number of Bitcoins held by Grayscale's GBTC has decreased from approximately 630,000 to 230,000. This represents a 64% decline since 2019, marking it as the ecosystem's largest 'leakage source'. Despite this drag, Morris suggests that capital outflows are expected to slow down from now on.
Global Bitcoin ETF net inflows have returned positive, indicating that demand has absorbed the GBTC sales. Structural demand is anticipated to continue, and as GBTC outflows decelerate, net inflows are likely to rebound soon. October, historically the strongest month for Bitcoin, is expected to set new records.
Morris emphasized that ETF net inflows are a crucial determinant of Bitcoin's price. He predicts a substantial price increase is imminent, signalling a bullish outlook.
