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CoinTurk News 2023-11-24 12:08:55

JPMorgan Warns Bitcoin Price May Be Under Pressure as $2.7 Billion Could Exit GBTC

JPMorgan, one of the world’s largest investment banks, has warned in its latest report that the outflow of funds from Grayscale Bitcoin Trust (GBTC) could put pressure on the price of Bitcoin (BTC). Analysts also added that the outflows from GBTC could exceed $2.7 billion. $2.7 Billion Could Leave the Bitcoin Market JPMorgan’s latest research report highlights that a significant portion of GBTC shares are being purchased at a high negative premium compared to the net asset value (NAV) of the secondary market, in anticipation of the conversion of the trust into a spot exchange-traded fund (ETF) with approval from the U.S. The post JPMorgan Warns Bitcoin Price May Be Under Pressure as $2.7 Billion Could Exit GBTC appeared first on COINTURK NEWS.

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