Why Did The Bitcoin Price Fall Below $41,000?
Summary
Bitcoin's price dropped below $41,000 but recovered. Grayscale's GBTC outflow of $2.2 billion and movement of 9000 BTC to Coinbase suggest sell pressure affecting Bitcoin's price. Analysts predict a significant exit from GBTC due to profit-taking and tax implications. However, other Spot ETFs like IBIT and FBTC have seen impressive demand, with two reaching $1 billion in assets under management in just a few trading days.
