Grayscale Bitcoin Negative Premium Charts All-Time Low
The dramatic collapse in UST brought tremendous selling pressure, catching many off-guard. But the subsequent negative macroeconomic conditions have adversely affected the cryptocurrency market as a whole, with institutional demand plunging to the lowest levels.
Bitcoin failing to secure a meaningful momentum following a turbulent month depicts that the dark days for the asset could last for an extended period. The bearish chaos continued to engulf the market sending shockwaves across the board. As a result, the losses for Grayscale trust products are not only limited to Bitcoin.
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