GBTC Experiences Its Largest Daily Drain Yet, Nearly 239,000 BTC Gone in Under 70 Days  

GBTC Experiences Its Largest Daily Drain Yet, Nearly 239,000 BTC Gone in Under 70 Days  According to the latest statistics, Grayscale’s Bitcoin Trust (GBTC) experienced its most significant outflow on March 18, 2024, totaling $643 million. Onchain experts have closely observed GBTC’s activities as a considerable number of bitcoin have been moved out of the trust’s reserves. Record-Breaking Outflow Hits Grayscale Bitcoin Trust Grayscale has continued to face outflows, marking […]

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Report: Genesis Global Cleared to Unload $1.3 Billion in GBTC Shares

Report: Genesis Global Cleared to Unload $1.3 Billion in GBTC SharesGenesis Global Capital has received authorization to offload its stake in Grayscale’s Bitcoin Trust (GBTC), valued at approximately $1.3 billion. Genesis Global Permitted to Liquidate $1.3 Billion in Bitcoin Trust Shares According to Bloomberg, Genesis Global Holdco LLC secured Judge Sean Lane’s approval to liquidate its GBTC investments, currently estimated at $1.3 billion. The request […]

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Bitcoin Market Dynamics Amidst GBTC Outflows: Analysts Differ On Future Trends

In the past week, Bitcoin faced notable shifts in market dynamics, marked by $2.2 billion in outflows from the Grayscale Bitcoin Trust (GBTC). During this period, the average holding time of transacted Bitcoin hit a record high. Bitcoin’s average holding time of transacted coins reached a record high this week amid $2.2B GBTC outflows.🔗https://t.co/1N4oOlUnxu pic.twitter.com/fmUFwtI38I — IntoTheBlock (@intotheblock) January 20, 2024 Grayscale, a major player in the crypto investment landscape, currently holds 566,973 BTC ($23.21 billion). This represents a decrease of approximately 52,227 BTC ($2.14 billion) since the approval of the Bitcoin Exchange-Traded Fund (ETF). Other key entities holding Bitcoin

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