In the third week of January, Bitcoin (BTC) demonstrated a modest 3% price recovery, following increased selling pressure exerted by asset manager Grayscale since January 12. Interestingly, there are indications that this selling pressure is now diminishing, pointing towards a potential restart of the bullish trend that Bitcoin has been experiencing since October 2023. Grayscale’s Resumed Selling Spree As previously reported, since the approval of the Bitcoin spot exchange-traded fund (ETF), Grayscale has deposited a significant sum of 103,134 BTC ($4.23 billion) into Coinbase Prime as of January 25. However, recent data from Arkham Intelligence, which tracks Grayscale’s transfers, reveals that the asset manager sent an additional 11,800 BTC to Coinbase on Friday. Furthermore, Grayscale has resumed its selling spree as the month draws to a close, with a fresh transfer of 8,670 BTC sent to Coinbase for selling on Monday. Related Reading: 13% Surge Sends AVAX Rumbling – Is This The Start Of Something Big? Grayscale has now sent 123,604 BTC to the exchange, with an approximate value of over $5 billion. However, it is important to note a key aspect amidst this ongoing selling s ..
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