Bloomberg analyst: The real issue with the market downturn is how large a proportion of those who have left GBTC will return to BTC risk exposure

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2024/01/14 01:15

Bloomberg analyst James Seyffart replied on social media regarding the reason for the BTC price decline despite ETF fund inflows, stating that it is simple: 1. How many people do you think bought Bitcoin or GBTC as a short-term/mid-term ETF approval game? 2. The sales of GBTC flood into the market, creating a settlement gap before some other ETFs or other risk exposures enter. The real question is what proportion of those who leave GBTC will return to BTC risk exposure.

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