The upward price trajectory of bitcoin over the past 24 hours has resulted in nearly $40 million worth of bitcoin short liquidations.
Last week was the first in two months where the crypto market saw spot bitcoin ETF net outflows. Outflows have been concentrated around the Grayscale Bitcoin Trust . Genesis received permission on February 14 from the U.S. Bankruptcy Court for the Southern District of New York to sell its GBTC shares. Coinbase added that it is unclear whether the recent GBTC outflows are linked to these sales, citing the absence of direct public filings that immediately announce when they happen.
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