Grayscale is starting to run out of steam on BTC sales through its spot Bitcoin ETF.
Grayscale, one of the world’s largest digital asset managers, has noticeably slowed down in Bitcoin sales on the first day of the new week. According to data from on-chain analytics platform Arkham Intelligence, Grayscale, Coinbase and anonymous wallets are only available today. $114 million worth 2,630 BTC transferred.
Transfers made by Grayscale 900 BTC‘ is sent to the address registered as Coinbase Prime, approximately 1,730 BTC It went to wallets suspected to have new storage addresses belonging to Grayscale.
Analysts and experts in the cryptocurrency market, who think that the pressure on Bitcoin will be removed as Grayscale sales gradually decrease, expect a possible rise in price to begin with the Fed interest rate cuts and halving.
According to CoinGecko data BitcoinAt the time the news was written from $43,256 is being traded.