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Coin Stories with Natalie Brunell
News Block: Bitcoin Price Recovers as GBTC Outflows Slow, Halving Impact on Bitcoin Mining Profits, 2024 Fiscal Deficit Could Exceed $2 Trillion, Yellen Admits Prices Not Coming Back Down
Jan 30, 2024
11:09
Snipd AI
This podcast discusses the slowing of GBTC outflows, the impact of the halving on mining profitability, the growing fiscal deficit, Secretary Yellen's admission about prices, and the role of the Federal Reserve in rising prices.
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Quick takeaways
- GBTC outflows are slowing down, indicating that selling pressure may be nearing its end.
- Other Bitcoin ETFs are seeing healthy inflows, with Packrock's spot Bitcoin ETF leading the way.
Deep dives
GBTC Outflows Show Signs of Slowing
The daily amount of GBTC outflows has steadily dropped each day last week, suggesting that the selling pressure from GBTC may be close to exhausted. Analysts at JPMorgan Chase believe that most of the selling is behind us, as more than $5 billion have already left. However, there are concerns that outflows could continue if Grayscale does not reduce its fees soon.
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