Opinion: Grayscale's ETH holdings are more stable than BTC, with significantly lower selling pressure
According to Odaily, crypto data analyst CyrilXBT posted on X that Grayscale's BTC holdings have continued to decrease after the ETF approval due to GBTC outflows, as investors are taking profits or reallocating, causing BTC prices to fluctuate under supply pressure. In contrast, Grayscale's ETH holdings have been more stable in recent weeks, with significantly less selling pressure compared to BTC. This indicates that the market has stronger holding confidence in ETH, possibly driven by expectations for an ETH ETF, staking yields, and lower urgency to sell. Currently, BTC is in a distribution and rotation phase, while ETH is in a patient waiting and positioning phase. During BTC's absorption of selling pressure, Grayscale is viewing ETH as the next asymmetric opportunity.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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