The GBTC discount is returning to Zero...
This might be most bullish indicator yet...
One of the major reasons bitcoin rallied so hard earlier this year was the arbitrage play at Grayscale.
GBTC was trading at a significant premium.
Hedge funds were buying spot BTC and swapping it for shares of GBTC, getting a significant premium for doing so.
That all blew up when GBTC premium turned into a discount, which is what it has been for the last several months.
However, that may finally be changing...
(Source: https://twitter.com/BTC_Archive/status/1410210929942405124)
The discount has been swinging back towards parity.
When we see GBTC flat or at a premium again, we will know its full on bull market again!
There's a lot of money in arbitrage if you can do it right. It's like the Jason Bourne of trading tactics.