- Bitcoin’s price has fallen below $65,000 amid continued outflows from Grayscale’s Bitcoin Trust (GBTC), which is seeing its first week of net negative flows since January.
- The GBTC premium has dropped below 20% as investors turn to cheaper spot bitcoin exposure from the launch of U.S. spot bitcoin ETFs.
- CoinDesk, an independent crypto media outlet, was acquired by the Bullish group in November 2023. Bullish is majority-owned by Block.one and has interests in blockchain and crypto assets.
Bitcoin Price Drops Below $65K
Updated Mar 22, 2024 at 9:08 a.m. PDT
Bitcoin‘s price has slipped below the $65,000 level, falling to around $64,000 at press time. The drop comes amid continued outflows from the Grayscale Bitcoin Trust (GBTC), which is on track for its first week of net negative flows since January.
The GBTC premium has fallen to record lows below 20% as investors turn to cheaper ways to get spot bitcoin exposure. Some analysts believe the launch of a spot bitcoin ETF in the U.S. could lead to further declines in GBTC assets under management.
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