GBTC Faces Continuous Selling Pressure with 19,500 BTC Discrepancy

According to Foresight News, CryptoQuant founder fenKi Young Ju revealed in a tweet that there is a discrepancy of approximately 19,500 BTC between the on-chain holdings and the disclosed off-chain reserves of Grayscale Bitcoin Trust (GBTC). This could indicate that GBTC is facing continuous selling pressure. The discrepancy between the on-chain and off-chain holdings may lead to further selling pressure on GBTC, potentially affecting the overall market sentiment. Investors should be cautious and monitor the situation closely to make informed decisions. As the largest Bitcoin investment product, GBTC plays a significant role in the cryptocurrency market. Any changes in its holdings or market dynamics could have a ripple effect on the entire industry. Therefore, it is crucial for investors to keep an eye on the developments surrounding GBTC and its holdings.