Grayscale's GBTC outflows, often perceived as selling, are actually bullish for Bitcoin's market cycle. These outflows reflect investors redeeming shares from a high-fee trust (GBTC) and rotating into lower-cost ETFs like BlackRock's IBIT, which has absorbed massive inflows (e.g., ~$900M on October 8, 2025). This shift represents smart money reallocating capital efficiently, not abandoning Bitcoin. Meanwhile, strong institutional buying—BlackRock holding 770K BTC and whales accumulating at dips—signals confidence in future price appreciation. Historically, such rotations have preceded rallies, as seen post-ETF launch in 2024 when Bitcoin surged ~150%. This dynamic suggests a healthy market, not a top, with capital flowing to stronger hands.
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