3% of available supply is pulled off the market and the price goes down?

I smell a rat 

 I think Grayscale coins changing hands ? 

 Rougly 27k BTC ($1.15B) out of Grayscale since last week.
https://m.primal.net/HYIx.jpg 

 So $1.7B net inflows when you include GBTC outflows?

That's a fair bit of buying considering the sideways chop in price. 

 Please also show the outflow from GBTC so we know what is just getting rotated. It's the net inflow into these funds that will affect market price, not what is just moving between them. 

 Jim Cramer just said the demand has been poor for a launch. He should hang it up. 

 Most in fairness is rotation out of GBTC as you “kind of” alluded.