Grayscale Bitcoin Outflows Slow, Halving Seen Limiting Price Declines
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Grayscale's Bitcoin ETF (GBTC) has seen declining outflows recently, after over $5B in assets were withdrawn.
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Analysts think the worst of the selling pressure may be over, suggesting a potential positive impact on Bitcoin's price.
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GBTC outflows have slowed to $255M on the 11th day of trading, the lowest level since trading began.
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Analysts see the decline in GBTC outflows as a bullish sign for Bitcoin's price trajectory going forward.
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Factors like the upcoming Bitcoin halving event could make it hard for bears to keep pushing the price down.