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👏 Head of the American ETF division of BlackRock: “By all indicators, the launch of the Bitcoin ETF was incredibly successful. We saw that interest in it was growing from different sides.” By Crypto Australia

#BTC broke out of the downtrend channel pattern and did a retest though. Price made a very unhealthy breakout, which doesn't seems reliable at all, and moreover, it should break above the major resistance so we can say structure turning bullish. As of now, it caught up in a range, so wait for a healthy breakout either side. By Crypto Australia

Guessing game on when GBTC bleeding stops helps push Bitcoin below $39K The GBTC “mass exodus” may be showing signs of slowing, but that hasn’t stopped Bitcoin from falling to two-month lows on Jan. 23. A multibillion-dollar guessing game over an investor exodus from Grayscale’s Bitcoin Trust (GBTC) has pushed the price of Bitcoin below $39,000 for the first time in nearly two months. Since its successful conversion to a spot Bitcoin exchange-traded fund (ETF) on Jan. 11, GBTC has posted over $3.4 billion in outflows, with Grayscale subsequently depositing billions in Bitcoin to crypto exchange Coinbase Prime — likely for sale. However, there are fears that the GBTC exodus has a longer road to travel. According to Bloomberg ETF analyst Eric Balchunas, GBTC recorded outflows of $515 million on Jan. 23 and has now bled 13% of its shares outstanding. He noted, however, that the latest figures suggest outflows could be slowing. By Crypto Australia

The amount of spending by these older hands is statistically significant, resulting in a +1 standard deviation increase in Revived Supply (spent coins aged 1yr+). As we can see in the chart, such events are relatively infrequent, however often align with up-trending markets meeting meaningful resistance. By Crypto Australia

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