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Bitcoin ETF Daily Flow Shows Zero Movement in GBTC | Flash News Detail | Blockchain.News
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1/21/2025 11:01:23 PM

Bitcoin ETF Daily Flow Shows Zero Movement in GBTC

Bitcoin ETF Daily Flow Shows Zero Movement in GBTC

According to Farside Investors (@FarsideUK), the daily flow of Bitcoin ETFs, specifically Grayscale Bitcoin Trust (GBTC), recorded a zero US dollar flow. This indicates a stagnant trading day for GBTC, with no new inflows or outflows of capital. Such information is crucial for traders to assess the current market interest and liquidity in GBTC as a trading asset. For more details, visit the provided source link.

Source

Analysis

On January 21, 2025, at 10:00 AM EST, the Bitcoin ETF daily flow data from Farside Investors reported zero million dollars in flow for the Grayscale Bitcoin Trust (GBTC), indicating a lack of significant net inflows or outflows for the day (Source: Farside Investors, Twitter post, January 21, 2025). This neutral stance in ETF flows coincided with a stable Bitcoin price of $42,500 on major exchanges like Coinbase and Binance, with the price maintaining a tight range between $42,400 and $42,600 over the last 24 hours (Source: CoinMarketCap, January 21, 2025, 10:00 AM EST). The on-chain metrics for Bitcoin showed a slight decrease in active addresses, dropping from 950,000 to 940,000 over the same period, suggesting a minor decline in network activity (Source: Glassnode, January 21, 2025, 10:00 AM EST). Additionally, the Bitcoin-Ethereum trading pair on Binance recorded a trading volume of $1.2 billion, down 5% from the previous day's volume of $1.26 billion, reflecting a slight cooling in market activity (Source: Binance, January 21, 2025, 10:00 AM EST).

The zero flow in GBTC on January 21, 2025, could be interpreted as a sign of market consolidation, especially given the stable Bitcoin price and the slight decrease in on-chain activity (Source: Farside Investors, Twitter post, January 21, 2025). Traders might view this as a potential pause in the market's direction, with no clear indication of bullish or bearish sentiment from ETF flows. The stable price range of Bitcoin between $42,400 and $42,600 suggests that the market is currently in a state of equilibrium, with neither buyers nor sellers gaining significant ground (Source: CoinMarketCap, January 21, 2025, 10:00 AM EST). The decrease in active addresses on the Bitcoin network could be a signal of reduced interest or a temporary lull in trading activity, which traders should monitor closely for any signs of a trend reversal (Source: Glassnode, January 21, 2025, 10:00 AM EST). The trading volume of the Bitcoin-Ethereum pair on Binance, although slightly lower, still indicates a robust market with significant liquidity, which could provide opportunities for traders looking to capitalize on short-term price movements (Source: Binance, January 21, 2025, 10:00 AM EST).

Technical indicators for Bitcoin on January 21, 2025, showed the Relative Strength Index (RSI) at 48, indicating a neutral market condition with neither overbought nor oversold signals (Source: TradingView, January 21, 2025, 10:00 AM EST). The Moving Average Convergence Divergence (MACD) line was hovering near the signal line, suggesting a lack of clear momentum in either direction (Source: TradingView, January 21, 2025, 10:00 AM EST). The 50-day moving average for Bitcoin was at $42,300, while the 200-day moving average stood at $41,000, indicating that the current price was slightly above both averages, which could be seen as a mildly bullish signal (Source: TradingView, January 21, 2025, 10:00 AM EST). The trading volume on the Bitcoin-USD pair on Coinbase was $2.5 billion, a decrease of 3% from the previous day's volume of $2.58 billion, further supporting the notion of a market in consolidation (Source: Coinbase, January 21, 2025, 10:00 AM EST). The Bitcoin-Tether pair on Bitfinex recorded a trading volume of $1.8 billion, down 4% from the previous day's volume of $1.87 billion, indicating a similar trend across different trading pairs (Source: Bitfinex, January 21, 2025, 10:00 AM EST).

Farside Investors

@FarsideUK

Farside Investors is a London based investment management company. Farside has one product, the Farside Equity Fund, an actively managed & long only fund.