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Bitcoin breaks through $50,000! Grayscale GBTC single-day net outflow hits record low

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Release: 2024-02-13 12:40:04
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Bitcoin breaks through $50,000! Grayscale GBTC single-day net outflow hits record low

In the early morning (13), Bitcoin BTC spot quotations continued to rise, breaking through the $50,000 mark, exceeding the highest price when the spot ETF passed. In the middle of the night on the 12th, Bitcoin began to rise from around US$48,800, and investors rushed to buy it. In just one hour, the price surged by more than US$1,000, successfully breaking through the US$50,000 mark. Previously, Bitcoin reached the $50,000 level on Christmas Day, December 25, 2021.

According to Binance data, around 1 a.m. Beijing time, the price of Bitcoin exceeded US$50,000 and climbed to US$50,154 before the deadline.

Bitcoin breaks through $50,000! Grayscale GBTC single-day net outflow hits record low

Grayscale's single-day net outflow of GBTC hit a new low

According to data, on the last trading day of this week, Grayscale's net outflow of GBTC The amount was US$51.81 million, which set a record low for GBTC’s single-day net outflow. At the same time, the total net inflow of the other nine Bitcoin ETFs except Grayscale was US$592 million. These two data reflect the market's different views on Bitcoin ETFs. Grayscale's net outflow shows investors' willingness to sell the product, while the net inflows of other ETFs indicate investors' overall optimistic attitude towards Bitcoin ETFs.

BlackRock's IBIT is the Bitcoin spot ETF with the largest single-day net inflow, with a net inflow of US$250 million, accounting for 42.2% of the total inflow. Fidelity’s FBTC followed closely with net inflows of approximately $188 million, accounting for 31.7% of total inflows.

The slowdown in Grayscale’s selling pressure also indirectly made the market optimistic about entering the market and taking over Bitcoin, creating a happy event that exceeded $50,000.

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source:120btc.com
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