Grayscale GBTC: Sees $4.2M Inflow
Grayscale's GBTC Bitcoin ETF records $4.2 million daily inflow amid bullish BTC trends, with price at $77,391.69 testing upper resistance.
SourceGrayscale's GBTC Bitcoin ETF clocked a daily inflow of $4.2 million, signaling renewed investor interest in spot Bitcoin products as the broader crypto market pushes higher. This comes as BTC maintains its upward trajectory, with inflows like this potentially fueling further gains amid discussions on BTC price prediction and crypto market trends. Farside Investors reported the data, highlighting sustained appetite for Bitcoin exposure despite recent volatility.
From a technical confluence standpoint, BTC trades at $77,391.69 on the 4-hour chart, firmly in a bullish trend with the EMA50 at $73,648.63 acting as immediate support and the EMA200 at $70,943.35 providing a deeper floor for any pullbacks. Momentum holds steady with RSI(14) at 69.86, edging toward overbought but still neutral, while MACD(12,26) confirms the golden cross at 1012.03, underscoring strong upside conviction. Price tests the upper Bollinger Band resistance at $77,390.71, flirting with volatility exhaustion, so expect a tactical retreat to the lower support at $72,760.15 or even the EMA50 before resuming the climb—classic setup for institutional accumulation in this Bitcoin rally phase, much like the HYPE around spot ETFs last quarter.
Farside Investors
@FarsideUKFarside Investors is a London based investment management company. Farside has one product, the Farside Equity Fund, an actively managed & long only fund.