GBTC Net Outflow Hits Historic Low
Bitcoin Surges to $71K
GBTC Net Outflow Hits Historic Low
SoSo Value
Data shows that the Bitcoin spot ETF has experienced two consecutive days of net outflow, with a total net inflow of $123 million on April 10.
Earlier, the CEO of Grayscale also stated that he believes the outflow of GBTC has reached a certain balance.
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Grayscale CEO: GBTC outflow has gradually balanced, expected to reduce fees
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Among them, GBTC only saw an outflow of $17.5 million, setting a new low since its launch. The three lowest net outflows of GBTC are as follows:
4/10: -$17.5 million
2/26: -$22.37 million
2/23: -$44.25 million
Daily Net Outflow of GBTC
The data for various ETFs on April 10 is as follows (from highest to lowest):
Grayscale GBTC: -$17.5 million
Fidelity FBTC: $76.31 million
BlackRock IBIT: $33.27 million
Bitwise BITB: $24.27 million
ARK Invest ARKB: $7.3 million
Bitcoin ETF Data on April 10
Bitcoin Surges to $71K
The March Consumer Price Index (CPI), released on Wednesday, exceeded expectations. This month, the CPI increased by 0.4%, with a 12-month inflation rate of 3.5%. Economists expected a growth of 0.3% and 3.4% compared to the previous year.
The core CPI also rose by 0.4% month-on-month, with a year-on-year increase of 3.8%, and projected rates of 0.3% and 3.7%, respectively. Bitcoin briefly fell to $67,506 on the 10th, and investors’ expectations for a rate cut this year also declined.
However, Bitcoin subsequently surged to a high of $71,190.
QCP Capital, a hedge fund, told CoinDesk:
The rebound demonstrates the potential demand for Bitcoin, as investors see the dip as a buying opportunity. Even in the face of a decline, there is still strong demand for long-term BTC call options, indicating a deep-seated bullish sentiment for Bitcoin.
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