Grayscale Bitcoin Trust (GBTC) Leads $89.73M Outflow Amid Market Recovery 📉

Bitcoin ETFs recorded significant outflows, totaling $89.73 million on August 9, as reported by SoSoValue. Grayscale Bitcoin Trust (GBTC) was at the forefront of these outflows. This occurred even though Bitcoin had seen a rise from $48,800. The outflows came at a time when the market was generally recovering, which might seem contradictory at first glance. The data highlights a somewhat cautious investor sentiment amid the recent market dynamics, notably affecting Bitcoin and related ETFs.