ContentFi Chief Operating Officer: A decrease in GBTC outflows is a bullish signal for cryptocurrencies

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2024/04/11 03:39

SosoValue data shows that the net outflow of GBTC on Monday and Tuesday exceeded $450 million, and as of Wednesday, the total outflow over the past three months has exceeded $15 billion. Nick Ruck, Chief Operating Officer at ContentFi Labs, said that a decrease in GBTC outflows is a bullish signal for cryptocurrencies due to reduced selling pressure on BTC. Michael Sonnenshein, CEO of Grayscale Investments, stated that their fund has begun to reach a "balance" in capital outflows. Prior to this, large-scale capital flight was triggered for some time due to conversion transactions and settlements by bankrupt companies such as FTX.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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