Best Crypto to Buy Now April 10 – Ethena, Nervos Network, ORDI
As Bitcoin (BTC) pumps back above $70,000 on falling GBTC outflows and in spite of hotter-than-expected US inflation figures, traders are scouring altcoin markets as they hunt for the best crypto to buy now for quick gains.
Grayscale’s GBTC ETF saw its lowest outflows in one month of just $18 million. That drop in outflows comes in wake of Grayscale’s CEO remarking that he believes sell pressure from bankrupt crypto estates like FTX and Genesis to be largely over.
Bitcoin ETF Flow – 10 April 2024
GBTC Outflow $18m
— BitMEX Research (@BitMEXResearch) April 10, 2024
If Grayscale’s CEO is correct, risks seem tilted towards net flows into spot Bitcoin ETFs remaining consistently net positive. That suggests spot Bitcoin ETF demand could be back as a major tailwind for the market.
Today’s GBTC outflow was the LOWEST daily outflow since it debuted as an ETF. This should not be overlooked.
Start your engines!
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