Grayscale Bitcoin Trust ETF is trading 5.1% down today as Bitcoin hits multi-month lows amid broad risk-off sentiment and persistent outflows from spot Bitcoin ETFs.
- Stronger-than-expected U.S. jobs data has reinforced expectations for higher-for-longer interest rates, weighing heavily on cryptocurrencies and crypto-linked funds.
- Investors are continuing to rotate away from higher-fee crypto products, amplifying the downward pressure on GBTC.
- Broad selling in digital assets is being driven by a general retreat from risk-sensitive investments following recent economic reports.