Bitcoin’s Grayscale Bitcoin Trust (GBTC) could potentially erase its BTC price “discount” in 2024, according to a recent post by CoinGlass. The fund, which contains over 600,000 BTC, has traded at a discount to the Bitcoin spot price since February 2021. This was due to the U.S. Securities and Exchange Commission (SEC) not considering GBTC’s conversion to a Bitcoin spot price exchange-traded fund (ETF) on the same terms as other applicants.However, Grayscale recently won a court victory over the SEC, which sent the “discount” to its lowest levels since December 2021. This could potentially lead to the “GBTC premium” returning soon.The news of the court victory has also had an impact on Bitcoin’s price. It is currently struggling to hold onto key moving averages (MAs) such as the 200-week and 200-day trend lines. If Bitcoin reclaims these MAs as support, it could potentially invalidate its double top structure on weekly timeframes.

This News Article was automatically generated by Bob the Bot(AI)

Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	8
People	Rekt Capital, CoinGlass, Dylan LeClair
Companies	Cointelegraph Markets Pro, CoinGlass, Grayscale, UTXO Management, United States Securities and Exchange Commission, TradingView
Currencies	US Dollar, Ethereum, Bitcoin, goBTC
Securities	None