According to data from trading firm Webull, around 70% of Grayscale GBTC holders likely remain in profit. The average shares were purchased at $27.82, some 20% below the current price as of press time.
The Webull data shows the state of the trust the day before its conversion to a spot Bitcoin ETF and indicates that 70% of investors had a cost range between the $18.84 and $27.24 range.
Grayscale holders in profit
In terms of distributions, the first concentration of shareholders appears to be positioned between $33 and $40. With the price at $34.9 as of press time, it will be interesting to see whether the bottom of this range acts as a support for the price amid continued outflows.
The second concentration is much lower, between $18 and $21. This group will remain profitable until the GBTC price falls another 39%.
Should the price fall to this level and its assets under management see an equivalent decline, we’d witness a further 230,000 BTC hit the OTC desks, worth around $8.9 bill
We współpracy z: https://cryptoslate.com/why-most-grayscale-investors-may-remain-in-profit-if-gbtc-falls-further-20-to-27/
