Premium of GBTC Has Fallen Substantially: What Does it Mean For Bitcoin?16.34

On October 18, cryptocurrency trader and technical analyst Eric Thies released a comparative chart of Bitcoin and Bitcoin Investment Trust (GBTC), a publicly tradable instrument that allows investors in the public stock market to invest in BTC.

According to Thies, the drop in the premium of GBTC is significant, as it demonstrates a decline in interest towards Bitcoin from retail investors or individual traders, and a large entity or group of investors are holding the price of BTC up above the key $6,000 support level.

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