Shares of Grayscale Bitcoin Trust Form Bullish Chart Pattern: Technical Analyst

“If judges turn more favorable, then there is the chance that GBTC Trust shares can be converted into an ETF. In that case, the discount in GBTC shares relative to the fund’s net asset value could be quickly arbitraged away, and that’s why GBTC shares are rallying now,” Markus Thielen, head of research and strategy at crypto services provider Matrixport, noting the bullish pattern on the technical chart.