Posted 1/24/2024, 4:38:24 PM
Bitcoin Rebounds Above $40K as Grayscale Outflows Slow, Lifting Crypto Market
- Bitcoin bounces back above $40K after recent drops partly due to Grayscale Bitcoin Trust outflows slowing
- Grayscale's transition to a spot ETF led to over half a billion in outflows, pressuring Bitcoin price
- But Tuesday outflows were less than expected, signaling potential corner turned
- Ethereum also hit but trades over $2K currently, up 1%
- Other gainers include Solana up 5% and Avalanche up 8%, reclaiming #10 market cap spot