Record Outflows from Bitcoin ETFs: U.S.-listed spot bitcoin ETFs experienced a historic $3.79 billion in outflows in November, surpassing the previous record of $3.56 billion, with BlackRock’s bitcoin ETF alone accounting for over $2 billion in redemptions.
New Inflows for Other Cryptos: Despite the outflows from bitcoin ETFs, newly launched Solana and XRP ETFs attracted significant net inflows of $300.46 million and $410 million, respectively.
Bitcoin and Ether Price Declines: Bitcoin's price fell below $85,000, marking a potential worst month since the 2022 crypto collapse, while Ether also saw a significant drop, contributing to a broader decline in the crypto market.
Increased Market Volatility: The overall market sentiment has soured, leading to a spike in volatility, with notable declines in various cryptocurrencies, including XRP, Binance Coin, and Dogecoin.
Wall Street analysts forecast GBTC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GBTC is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
Wall Street analysts forecast GBTC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GBTC is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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0 Sell
Current: 70.340
Low
Averages
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Current: 70.340
Low
Averages
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
