On June 4, Grayscale Bitcoin ETF (GBTC) declined 5.38% overnight, trading at $47.94/share, with trading volume of $1.862 million.
On the news front, U.S. spot Bitcoin ETFs recorded their 12th consecutive day of net outflows, setting the longest continuous outflow streak on record. Total net assets across Bitcoin ETFs have dropped from $107.8 billion on May 14 to $85 billion, with investors withdrawing nearly $3.5 billion during the streak. Adding to the selling pressure, long-term Bitcoin holders — addresses holding for at least 155 days — have turned net sellers in recent weeks after remaining largely inactive from February through April, offloading approximately $2.4 billion in Bitcoin over the past two days. The sell-off was further accelerated after Strategy sold 32 bitcoins, triggering panic selling and a cascade of long liquidations. Bitcoin has fallen 10% this week, weighed down by geopolitical uncertainty from the Iran situation and diminishing prospects for the U.S. market structure bill, which had been viewed as a potential catalyst for renewed investor interest.
Grayscale Bitcoin ETF is a trust invested exclusively in bitcoin, deriving its value solely from the price of bitcoin, enabling investors to gain exposure to bitcoin price movements without the challenges of buying, storing, and safekeeping bitcoins directly.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
