Bitcoin reclaims $69,000 as BTC halving month approaches

Bitcoin price briefly tagged $70,000 on Monday before a quick retraction but still holds above $69,000. BTC halving is around 26 days away, likely to happen on April 20 based on Nice Hash countdown. Grayscale outflows against inflows from BlackRock and Fidelity shows market dynamics influencing BTC price. Bitcoin price bounced back over the weekend with sustained gains into the new week.

As for those saying Grayscale needs money to pay for the lawsuit, we paid 2% FOR YEARS. In hindsight, a recent report by Arkham Intelligence indicated that at the current rate of redemptions, , GBTC is expected to run out of Bitcoin to sell in 96 days. Grayscale has transferred 266.47K BTC out of their wallets for GBTC redemptions since the product hit the market on January 11, with the holdings moving from 618.28K BTC to 356.44K BTC as of March 23.

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