Bitcoin Falls Below $39,000 for the First Time Since Early December 2023

Key Takeaways

Bitcoin’s price has dipped to six-week lows of $38,785.
Grayscale’s transition to a spot ETF has led to significant outflows, raising concerns about market absorption capacity.
Despite these challenges, the spot ETF sector, including GBTC, remains robust, signaling a mixed outlook for Bitcoin’s immediate future.

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