GBTC is facing a possible distribution that can affect the
BTCUSD
price.
Institution are generally the first mover in the market as it takes more time to load or unload their bags. Back when the bitcoin reached 69K + GBTC failed short and started diverging with the Bitcoin price. In the other hand, earlier this year (Jan 9th, 2023), GBTC was first to breakout with a huge runaway gap and a massive green candle.
BTCUSD
price. Institution are generally the first mover in the market as it takes more time to load or unload their bags. Back when the bitcoin reached 69K + GBTC failed short and started diverging with the Bitcoin price. In the other hand, earlier this year (Jan 9th, 2023), GBTC was first to breakout with a huge runaway gap and a massive green candle.
