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The bitcoin market is abuzz with concerns over Grayscale Bitcoin Trust (GBTC) as reports suggest its bitcoin reserves could vanish within the next 96 days. The details of this situation and Grayscale’s strategies could shed light on related market dynamics.
Accelerated Depletion of Grayscale Bitcoin Reserves
Analysis from Arkham Intelligence reveals that Grayscale has transferred a staggering 266,470 bitcoin out of its wallets since the launch of Bitcoin ETFs on January 11. This accelerated rate of outflows indicates a concerning trend in GBTC’s bitcoin holdings. Arkham Intelligence warns, “GBTC runs out of Bitcoin to sell in 96 DAYS.”
Grayscale started the year holding 618.28K BTC…
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