Bloomberg analyst: The real issue with the market downturn is how large a proportion of those who have left GBTC will return to BTC risk exposure

Bloomberg analyst James Seyffart replied on social media regarding the reason for the BTC price decline despite ETF fund inflows, stating that it is simple: 1. How many people do you think bought Bitcoin or GBTC as a short-term/mid-term ETF approval game? 2. The sales of GBTC flood into the market, creating a settlement gap before some other ETFs or other risk exposures enter. The real question is what proportion of those who leave GBTC will return to BTC risk exposure.