"Grayscale's Bitcoin Victory Sparks Inflows of 30K BTC to Crypto Exchanges"

Prior to a U.S. court ruling in favor of Grayscale's request to convert its bitcoin trust into an exchange-traded fund (ETF), nearly 30,000 BTC, worth $822 million, were moved to addresses tied to centralized exchanges. This influx of bitcoin to exchanges may have been a result of traders anticipating a price boost following the ruling. The ruling led to a 6% surge in bitcoin prices, pushing it to $28,000. While increased inflows to exchanges can indicate potential selling pressure, mean outflows also rose to two-month highs, suggesting that the net balance held on exchanges, particularly those offering spot trading, actually decreased.