Analysts predict significant growth of bitcoin this week

According to cryptocurrency analysts, bitcoin is facing the «biggest headwind» in the form of an outflow of funds from GBTC. According to forecasts, favorable conditions may return to BTC’s price dynamics this week.

Inflows to US exchange-traded funds have dropped significantly since the beginning of March, while GBTC outflows have reached record levels. According to experts, this is what led to five consecutive days of net decline in assets under management.

According to Cointelegraph, the bankrupt crypto lender Genesis was rumored to have been selling its position in GBTC throughout the week. If this transaction were to be finalized now, the pressure on the ETF’s trends could ease.

«Net outflows from bitcoin ETFs fell to $ 51.6 million yesterday, helped by a significant slowdown in GBTC sales,» said investor and entrepreneur Alistair Milne, commenting on the outflow data on X.

The pivot point theory is also shared by statistician Willie Wu, founder of the online data resource Woobull. In a recent post, Wu presented a new model that compares ETF inflows to BTC price action. While he did not provide specifics on what data is used for this metric, he suggested that the most intense phase of unloading may be behind us.

«According to this new model I’m working with, the worst phase of the selloff may already be behind us,» the analyst commented.