While Bitcoin price itself has begun the inevitable correction, dropping almost 17% since its recent high, investment funds for the asset are still hot potatoes. Grayscale Bitcoin Trust (GBTC) is a prime example as institutional interest has surged more than the asset itself.
Bitcoin appears to be still in correction mode. It did climb back up to reach $12,400 for a few hours yesterday but has since dropped back to support at around $11,500. The lowest point in the recent pullback was $10,300, a drop of 25% from its $13,800 high. Many are expecting a 30% plus decline which would send BTC back into the mid $9,000s or lower.