Bitcoin Price Holds Above $70K Despite $125M in GBTC Outflows

• GBTC outflows totaled $124.9 million this week, but bitcoin price remains stable above $70,900 • Some believe GBTC outflows put selling pressure on bitcoin, but that view is not universal • Traders expect bitcoin price stability for rest of April, with 60% chance of hitting $75k and 32% chance of $80k • Overall bitcoin ETFs saw $227.9 million in outflows this week, with inflows to Fidelity and Bitwise • GBTC sees more outflows due to its higher fee structure compared to newer bitcoin ETFs