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Institutional outflows from spot Bitcoin ETFs continue after the long Easter weekend, likely inducing further downside to the price of Bitcoin.
On April 1, outflows from the Grayscale Bitcoin Trust (GBTC) reached $302.6 million, while inflows from BlackRock’s IBIT and Fidelity’s FBTC were $165.9 million and $44 million respectively. This resulted in a net outflow of $85.7 million.
QCP Capital, a Singapore-based trading firm and market maker, warned of increased downward pressure across
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