Grayscale GBTC: Sees $31.6M Outflow

Grayscale's GBTC posted a -$31.6 million outflow in the latest daily Bitcoin ETF update from Farside Investors, highlighting persistent selling pressure on the spot BTC vehicle. This marks another drawdown for the fund, which has faced consistent redemptions over the past six months as investors pivot toward lower-fee alternatives amid volatile crypto market trends.

Zooming into the 4-hour BTC chart, price action clings to $78,916 in a bearish setup where the EMA50 at $80,380 caps upside like a steel ceiling, while the EMA200 at $77,188 lurks as firm long-term support. MACD screams bearish with a death cross at -107.81, and RSI at 39.62 stays neutral, but confluence builds as Bitcoin trades inside Bollinger Bands—testing the lower support at $78,597 could trigger a bounce, yet failure here eyes a deeper slide toward EMA200 before any real reversal, especially with ETF outflows fanning crypto market crash fears.