Bitcoin may be witnessing a shift in momentum as institutional outflows diminish.
This comes amid discussions surrounding the United States Spot Bitcoin ETFs which have faced challenges signifying a potential consolidation phase before Bitcoin reaches an all-time high again.
The series of GBTC outflows coincided with reports of the bankrupt crypto lender Genesis liquidating its GBTC holdings.
The sell-off could be nearing its end, potentially easing the downward trends observed in ETFs.
Despite challenges, spot Bitcoin ETFs have been historically successful, amassing $12.15 billion in cumulative flows.