These crypto gains come as sentiment gradually returns with outflows from the Grayscale Bitcoin Trust (GBTC) continuing to fall below $100 million over the past two sessions. This also coincides with positive flows into other spot Bitcoin ETFs, albeit in a gradual manner.
As investors finish taking profit on the GBTC and rebalancing their portfolios, Bitcoin will have eliminated one of the most important obstacles to its progress. The negative sentiment was mainly driven by the violent outflows from the GBTC that came after the approval to launch these ETFs.
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