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RE: GBTC Premium is rising - Bitcoin spike Imminent?
I had not seen this move! Very interesting indeed despite the cautious nature of the financial markets this week. Institutions have been given a “go ahead” sign to allocate to risky assets with the Fed maintaining low rates and economic data looking healthy so you may be on to something!
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GBTC premium tends to spike before and during up moves in bitcoin. There are some false alarms though, so no guarantees, but there does appear to be some sort of correlation. If this signal turns out to be true I would expect to see bitcoin moving up past $5,300 in the next couple of days.