Is The Bottom In? GBTC Outflow Drops For the Third Day, Reaches $394M

• On January 25, GBTC saw an outflow of $394 million,a notable decrease from the previous days’ outflows.
• The net outflow of GBTC since its launch stands at $4.4 billion, according to a Bloomberg report.
• JPMorgan predicts the conclusion of the profit-taking on GBTC and a further downside for Bitcoin.

The crypto community has been transfixed by massive outflows from Bitcoin exchange-traded funds since their launch earlier this month. Reportedly, one of the biggest player in the space, Grayscale Investments, has experienced a net outflow of more than $4.4 billion. However, investors may finally find solace as the GBTC outflow has been in decline for the past few days.

James Seyffart, a Senior ETF Analyst at Bloomberg, revealed that over the last day, GBTC saw an outflow of $394 million, a notable decline from the previous two days. January 23 saw $515 million and January 24 $425 million in outflows respectively.

Meanwhile, there are assumptions that the profit-taking on GBTC has almost concluded. In a…

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