GBTC’s Discount Narrows Amid Bitcoin’s Downturn, But A Bullish Trend Is Coming?
The Grayscale Bitcoin Trust (GBTC) share price has again made headlines. Its premium or discount to Bitcoin’s net asset value (NAV), often viewed as an indicator of institutional sentiment towards the cryptocurrency, has displayed a notable trend recently, even amid the prevailing bearish atmosphere. GBTC’s Evolving Price Dynamics The phenomenon of GBTC’s share price inching closer to Bitcoin’s market price is worth noting. The correlation between the two has been historically significant, with price differences often shedding light on broader market sentiments. Related....
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In its new monthly report titled “The Bitcoin Monthly: Bitcoin Battles Resistance Around Its On-Chain Mean”, Ark Invest has provided an exhaustive analysis of the current market landscape. The report categorizes its findings into bullish, neutral, and bearish perspectives, providing a holistic view of Bitcoin’s current and potential future stance. Bullish Arguments For Bitcoin Grayscale Spot ETF and GBTC’s Discount To NAV: On August 29, a pivotal decision was made by a US Federal Appeals Court. They ruled that the U.S. Securities and Exchange Commission (SEC) must revisit....
Few expected Bitcoin to bounce back after the crash in March. The cryptocurrency had basically halved within a single 24-hour time frame, leaving many convinced that the asset’s life span was over. But one trader predicted a reversal. He published a tweet amid the downturn noting that by the end of May or June, he expected Bitcoin to be trading at $10,000. At the time he posted the chart, the world was in chaos, with […]
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Dark days for crypto institutional investors as contagion fears are magnified and asset prices tumble. The largest Bitcoin investment vehicle, the Grayscale Bitcoin Trust (GBTC), is now trading at its biggest ever discount to the spot market.Data from on-chain analytics resource Coinglass shows GBTC shares down 34% versus BTC/USD on major exchanges as of June 17.GBTC suffers in market downturnAmid continued turmoil in DeFi spilling over to infect the crypto market, conditions have deteriorated for investors big and small.The latest figures now show that institutions have definitively....
Over the course of October Bitcoin’s price has been on a tear, rising in value. In the first week, Bitcoin.com predicted bullish indicators as the price ramped up to $630 USD per BTC at the time. Now the value of the cryptocurrency is slowly edging towards the $700 mark and was battling resistance at $690 at press time. Bitcoin’s Bullish Value Has Kept....