Bitcoin fell to a low of $40,364 yesterday evening, and then rose above $41,000.

Unfortunately, selling pressure emerged afterwards, and it continued to decline from 2 o'clock, reaching a low of $39,431, hitting a new low in nearly fifty days.

There is currently a small rebound, and it is now reported at $39,771, down 4.3% in the past 24 hours.

GBTC transfers out 15,000 bitcoins again

As for this decline, it is likely related to the selling pressure brought by GBTC.

According to on-chain analyst Yu Jin's monitoring, around 10 o'clock last night, 15,456 BTC (about $629 million) was transferred from the Grayscale GBTC trust address to Coinbase Prime.

According to his statistics, since the approval of the Bitcoin spot ETF on January 10, Grayscale has been transferring BTC during the opening hours of the U.S. stock market for 6 consecutive trading days starting from January 12, with a total amount of 69,799 BTC (currently worth about $2.73 billion).

Ethereum briefly approached $2,300

As for Ethereum, its trend is basically similar to Bitcoin but with more pronounced fluctuations. It dropped to a low of $2,303 in the morning, down 5.3% in the past 24 hours.

Top ten cryptocurrencies experience a general decline

Data shows that the other top ten cryptocurrencies have experienced a general decline in the past 24 hours, with AVAX and SOL experiencing the most severe declines, falling by 9.2% and 7.2% respectively.

With Bitcoin falling below $40,000, the total amount of cryptocurrency liquidations on the entire network in the past 24 hours has exceeded $250 million, worth over 1.8 billion RMB, with over 92,000 people being liquidated.

Among the liquidated currencies, BTC ranks first with $74.57 million, and ETH ranks second with $64.94 million.

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