Bitcoin fell as much as 10% to lows of $62,428 in Tuesday's trading
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The $25 billion Grayscale Bitcoin Trust, or GBTC, experienced a $643 million outflow on Monday, the most since it transitioned into an ETF on January 11, according to. Previously, robust demand for nine new spot-Bitcoin ETFs that launched at the same time more than compensated for a wave of GBTC exits.
However, flows into products from heavyweights like Fidelity Investments and BlackRock Inc. are also slowing, with the batch of 10 ETFs as a whole seeing a net outflow of $154 million on March 18.has been steadily declining after reaching all-time highs of $73,835 on March 15, with five out of six days in red. BTC reached lows of $62,428 in the early trading session today before slightly rebounding.asks where BTC will find support.
The key question remains whether this key demand zone might halt Bitcoin's decline. Historically, demand zones with strong buys have led to price stabilization and even rallies; such potential in this scenario, however, remains unknown.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends.
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