Bitcoin ETFs, including GBTC, may soon begin to record net inflows, data suggests, as exchanges’ BTC balances revert to their downtrend.
Bitcoin (BTC) exchange outflows in January are chipping away at bearish BTC price prognoses.
The latest data from on-chain analytics firm Glassnode confirms that despite a 20% dip on BTC/USD, coins have continued to leave exchanges.
Bitcoin investor appetite has not suffered as a result of current BTC price pressures, according to on-chain monitoring.
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Source: https://cointelegraph.com/news/gbtc-outflows-drop-bitcoin-exchanges-btc