Bitcoin and cryptocurrency prices struggled to find direction in June after moving sharply lower through April and May.
The bitcoin price, down almost 50% from its peak of around $65,000 per bitcoin set in April, has managed to hold above the closely-watched $30,000 level—but has failed to make convincing gains.
Now, with around $1.5 billion worth of shares in the Grayscale Bitcoin Trust (GBTC) hitting the market on July 18—something JPMorgan named as a downside risk for the bitcoin price—researchers at U.S. crypto exchange Kraken have predicted the looming Grayscale unlock could be “positive for the bitcoin price.”
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