{"id":493032,"date":"2024-03-22T12:44:34","date_gmt":"2024-03-22T12:44:34","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=493032"},"modified":"2024-03-22T12:44:34","modified_gmt":"2024-03-22T12:44:34","slug":"bitcoin-price-prediction-as-grayscale-outflows-hit-359m-this-eco-friendly-btc-ico-is-stampeding-towards-8m","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-as-grayscale-outflows-hit-359m-this-eco-friendly-btc-ico-is-stampeding-towards-8m","title":{"rendered":"Bitcoin Price Prediction: As Grayscale Outflows Hit $359M, This Eco-Friendly BTC ICO is Stampeding Towards $8M"},"content":{"rendered":"

The Bitcoin price dropped 2% in the last 24 hours <\/span>to trade at $65,902<\/span><\/a> as of 04:01 a.m. EST on trading volume that dropped 31% to $39 billion.<\/span><\/p>\n

This comes as Grayscale’s GBTC Bitcoin ETF (exchange-traded fund) recorded another $359 million in outflows on March 21. Still, Bloomberg ETF analyst Eric Balchunas said on X that he thinks ”the worst is prob close to being over.”<\/span><\/p>\n

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The more I think about it the more likely the uptick in flows is related to the bankruptcies bc of the size and consistency. The flows in Feb showed what retail outflows look like, smaller and random pattern. Also any Gemini\/Genisis outflows likely buying btc w cash hence market…<\/p>\n

— Eric Balchunas (@EricBalchunas) March 22, 2024<\/a><\/p><\/blockquote>\n