Bitcoin Price Rises as GBTC Sell Pressure Eases
TL;DR Summary
Bitcoin rose nearly 4% to $41,362.64 as concerns about outflows from the Grayscale Bitcoin ETF (GBTC) eased, with analysts noting a slowdown in redemptions. Ether also saw a 1.5% increase, but is on track for a 10% weekly decline. Despite a sharp drop earlier in the week, Bitcoin-related equities have outperformed the cryptocurrency, with Coinbase, Riot Platforms, and Marathon Digital all set to end the week with gains.
- Bitcoin tries for a winning week as investor worries about GBTC sell pressure subside CNBC
- Grayscale's GBTC Profit Taking Likely Over, Easing Bitcoin Selling Pressure: JPMorgan CoinDesk
- Bitcoin breaks back above $41,000 amid slowing GBTC outflows The Block
- Bitcoin Skyrockets Over $1K in Hours as Daily Liquidations Cross $110 Million CryptoPotato
- Bitcoin Price (BTC) Steadies as Grayscale ETF (GBTC) Outflows Slow Bloomberg
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