NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

The Last Time This Metric Was This Low, Bitcoin Bottomed at $3,200

Nick Chong
Nick Chong
1 year ago
3 mins read
bitcoin price

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The past two months have been a confusing time for Bitcoin investors. The cryptocurrency has traded between a rock and a hard place, barely deviating from the range lows of $8,500 and the highs of $10,000.

BTC is so indecisive that analysts have noted that a textbook volatility indicator has reached multi-month lows. Citing other indicators, others have argued that volatility is even at multi-year lows.

The Bitcoin bull case recently gained strength with an unexpected observation from a cryptocurrency technician.

Related Reading: A Hacker Just Drained $500k in Ethereum & Altcoins From a DeFi App

Bitcoin Bottomed in 2018 Last Time This Happened

Over the past few years, the Grayscale Bitcoin Trust (GBTC) has become increasingly important to the crypto market. Latest data suggests that Grayscale now holds around two percent of all Bitcoin in circulation. This is a figure that increases every few weeks as the firm continues to raise capital.

According to one trader, the investment vehicle has become so important that it may be signaling points at which BTC bottoms.

Because GBTC cannot be directly redeemed for BTC, there is a premium between the trust’s shares and the value of coins that backs the trust. The premium may indicate when Bitcoin bottoms, the trader suggested.

He shared the image below, which shows Bitcoin’s macro price action in relation to the premium of the trust over the spot price of Bitcoin. Whenever the premium is low, BTC seemingly bottoms out:

“This guy wrote an interesting thread about GBTC and pointed out that the GBTC premium seems to always be low when $BTC bottoms out. It looks like it’s true. Premium is always higher when market goes parabolic, premium is low when market bottoms out.”

Last time the premium was this low was in December 2018, when Bitcoin bottomed at $3,200. The cryptocurrency rallied 300% in the six months that followed.

The premium also saw a strong dip during the crash to $3,700, though it didn’t drop as far as it has now.

Image

Macro BTC price action with GBTC premium over spot market indicator. Chart from TradingView.com; chart made by Byzantine General (@Byzgeneral on Twitter).

Grayscale’s Massive Inflows

Tangentially related to the analyst’s observation, Grayscale has reported extremely strong inflows over recent months. This may signal to the market that long-term investors are accumulating.

As reported by technology analyst Kevin Rooke, Grayscale added 19,879 BTC to its Bitcoin Trust in a single week while miners produced 7,081 coins.

Image

BTC added to GBTC since halving vs. BTC mined since halving graph from Kevin Rooke (@Kerooke on Twitter).
Related Reading: Crypto Tidbits: BTC At $9k, Grayscale Ethereum Trust, Cryptocurrency & PayPal
Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Chart from TradingView.com
The Last Time This Metric Was This Low, Bitcoin Bottomed at $3,200
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Best Crypto To Invest In As Ethereum Eyes $5.5K Ahead Of $XRP ETF Launch.

Best Crypto To Invest In As Ethereum Eyes $5.5K Ahead Of $XRP ETF Launch

Ethereum ($ETH) is under the spotlight after Fundstrat’s Tom Lee reiterated his bullish stance, stating that $ETH could reach $5.5K...

Aaron Walker 1 hour ago
FalconX Adds To Solana Stash: $28.39M In SOL Pulled From Binance

FalconX Adds To Solana Stash: $28.39M In SOL Pulled From Binance

Solana is once again in the spotlight after surging past the $240 level, marking a strong recovery and renewed momentum...

Sebastian Villafuerte 2 hours ago
이더리움 강세 속 주목할 알트코인 투자 전략

이더리움 강세 속 주목할 알트코인 투자 전략은?

암호화폐 시장에 또 다른 불안 요인이 떠올랐다. 대규모 디지털 자산을 보유한 일부 기업들이 실적 악화와 함께 재정 압박을 겪으면서, 이들이 보유중인 비트코인이 위험에 처할 가능성이...

Soyeon Lee 2 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

hyperliquid hype hypeusd

Hyperliquid Hits New All-Time High: Will Momentum Push HYPE Into a Higher Range?

James Halver 14 minutes ago

Ethereum potrebbe puntare ai 10.000 $: ecco perché tanti analisti sono ottimisti

Orfeo Barone 1 hour ago
Dogecoin

Analyst Sets $5 Target For The Dogecoin Price If This Happens

Scott Matherson 1 hour ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の価格予測:2021年以来の強気シグナル点灯、1ドル到達への300%上昇も視野に

    ドージコイン...

    33 minutes ago
  • リップル 今後の価格動向:ETF承認で100ドル突破への道筋は開けるか

    リップル...

    46 minutes ago
  • 仮想通貨プレセール最新動向:イーサリアムやカルダノを凌ぐと予測される新興プロジェクト

    ...

    58 minutes ago
  • 仮想通貨おすすめ:第4四半期に注目される新興コインとカルダノ・パイの比較

    ...

    1 hour ago
  • FRB利下げ後にビットコインが117,000ドル突破、新しい仮想通貨プレセールが注目を集める

    ...

    2 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.