Bitcoin Bottomed Every Time GBTC Premium Plunged to New Lows; It’s Done it Again

At a macro level, the Bitcoin price bottomed every time the premium of Grayscale Bitcoin Trust (GBTC) fell substantially to a local low. After showing a 30 percent premium in March, GBTC markups fell steeply. The data coincides with a record high investment into Bitcoin and other major cryptocurrencies like Ethereum from institutions in the…

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Author: toutiao