Market Relations

1. Coinbase's negative premium represents the current BTC selling pressure.

2. The amount of grayscale transferred to Coinbase represents the selling pressure in the next 12/24 hours.

3. The outflow amount of GBTC indicates the amount that will be transferred to CoinBase the next morning.

4. The discount rate of GBTC can be used to infer how much pressure the GBTC outflow amount is on that day.