Bitcoin at $62K, ETF sees outflows for two consecutive days, Grayscale GBTC selling pressure remains unabated

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Bitcoin Spot ETF Outflow for Two Consecutive Days

SoSo Value data shows that the Bitcoin Spot ETF has experienced net outflows for two consecutive days, with a total outflow of -36.67 million US dollars on April 15th.

ETF data for April 15th is as follows:

• Grayscale GBTC: -110 million US dollars

• BlackRock IBIT: 73.4 million US dollars

Continued GBTC Sell-Off

Previously, Grayscale GBTC only had a net outflow of -17.5 million US dollars on April 10th, hitting a historical low, which was seen as a sign that the GBTC sell-off had ended. However, the outflows for GBTC in the following three days exceeded 100 million:

• 4/11: 124.9 million US dollars

• 4/12: 166.2 million US dollars

• 4/15: 110.1 million US dollars

The CEO of Grayscale also mentioned last week that he believes the outflows for GBTC have reached a certain balance.

Grayscale CEO: GBTC Net Outflows Gradually Balancing, Expected Fee Reduction

Bitcoin Faces Halving, ETF Cooling, and War

Bitcoin dropped to as low as $60,000 on April 13th, and was around $62,840 at the time of writing, with a decline of approximately -11.67% since April.

The drop was mainly due to the attack by Iran on Israel, but Bitcoin has been unable to stabilize above $70,000 again due to recent factors such as declining inflows into Spot ETFs and the upcoming halving.

Related news is as follows:

• Iran launches drone attack on Israel, Bitcoin price plunges to 60K

• Israel refrains from retaliating against Iran, market concerns ease, Bitcoin back to 65K

• Bitcoin drops to 66K, market liquidations of 900 million RMB! Analyst: Miners selling 5 billion RMB in inventory, next six months in a slump