Bloodbath For Bitcoin: Grayscale’s $529 Million BTC Move To Coinbase Pushes Price Below $41,000
Summary
Bitcoin's price dropped below $41,000 as ETFs for Bitcoin went live. Grayscale's Bitcoin Trust ETF outflows to Coinbase totaled $2.313 billion, contributing to the downtrend. Miners sold nearly 10,600 BTC, worth $455.8 million, intensifying selling pressure. Bitcoin's price is at $40,900, with declines over various time frames. The critical support level of $41,000 has been breached, and the focus is on defending the $40,000 support level. If it fails, the price could dip to $37,700, but bullish investors are hopeful for a significant bull run after the upcoming Bitcoin halving in April.
