The transfer has raised questions about its potential influence on the redemptions of Grayscale’s Bitcoin Trust (GBTC).
Grayscale has not provided a comment on the transfer or its timing in relation to the Bitcoin price drop. However, the correlation between the transfer and the dip in Bitcoin’s price has become a point of discussion among market participants, who are monitoring the situation to gauge the ETF’s strategy and the possible effects on Bitcoin’s liquidity and market stability.
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Source: Cryptocurrency - investing.com
