JPMorgan: GBTC Outflows Could Amount to $3 Billion, Exerting Downward Pressure on Bitcoin

Bloomberg ETF analyst Eric Balchunas also observed that yesterday GBTC’s discount widened to 0.96% (compared to 0.47% the previous day), and he bluntly stated that this is “not a good sign.” Perhaps GBTC is facing selling pressure.
According to his statistics, GBTC had a net outflow of $1.6 billion in the past four days, while other Bitcoin spot ETFs had a net inflow of $2.8 billion.