Grayscale's Bitcoin Outflows: What's Next for GBTC and BTC Price?

Outflows from the Grayscale Bitcoin ETF (GBTC) continue, with $515 million leaving on Tuesday, totaling $3.96 billion, while the "newborn 9" saw $407 million in flows. Blackrock, Fidelity, and Bitwise lead in inflows, but GBTC alone saw a massive outflow of 98,296 BTC. Analysts are divided on the future scale of outflows, with some seeing potential signs of easing selling pressure. The market absorbed a massive sell-off by bankrupt crypto exchange FTX, but GBTC's outflows continued. With only 42 trading days left until GBTC reaches 0 BTC if outflows continue at the same pace, the market's composition is shifting towards the "newborn 9", potentially fortifying its foundation for a more stable future.