Bitcoin

Spot

Spot Bitcoin exchange-traded funds (ETFs) have experienced a notable downturn, with one of the lowest net inflows recorded on March 14, totaling $132 million.
This marks a significant 80% decrease from the previous day’s inflows, showcasing a sudden shift in investor sentiment over the past eight trading days.
<img decoding="async" src="https://s3.cointelegraph.com/uploads/2024-03/51dafae6-e4cb-4bf7-b356-4a14ddf545f4.png" alt="51dafae6 e4cb 4bf7 b356 4a14ddf545f4" title="Spot Bitcoin ETFs See a 80% Decrease in Net Inflows 2">
<h3 id="analyzing-the-recent-trends">Analyzing the Recent Trends</h3>
This recent decrease in net inflows is part of a continuing trend, with the previous day witnessing an inflow of $684 million, a 38.3% drop from the day before. Notably, Tuesday had seen a record-breaking single-day inflow of $1.05 billion, indicating a sharp reversal in investor behavior.
On March 14, while Grayscale’s GBTC experienced another significant outflow of $257 million, the overall flow into ETFs remained positive, thanks to inflows into VanEck Bitcoin Trust ETF (HODL) and Fidelity’s FBTC, which stood at $13.8 million and $13.7 million, respectively. Despite the outflows from GBTC, the day concluded with a net inflow, primarily buoyed by BlackRock’s IBIT ETF, which recorded the day’s largest share of inflows at $345 million.
The cumulative net inflow into U.S. spot Bitcoin ETFs remains substantial, nearing the $12 billion mark after 44 days of trading. However, this decline in ETF inflows comes at a time of broader downturns in the crypto market, with <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin’s</a> price dropping below $68,000.
<figure id="attachment_35290" aria-describedby="caption-attachment-35290" style="width: 100%" class="wp-caption alignnone"><img fetchpriority="high" decoding="async" class="size-full wp-image-35290" src="https://crypto.ro/en/wp-content/uploads/2024/03/BTCUSD_2024-03-15_14-56-07.png" alt="BTC/USD" width="1534" height="857" title="Spot Bitcoin ETFs See a 80% Decrease in Net Inflows 3" srcset="https://crypto.ro/en/wp-content/uploads/2024/03/BTCUSD_2024-03-15_14-56-07.png 1200w, https://crypto.ro/en/wp-content/uploads/2024/03/BTCUSD_2024-03-15_14-56-07-300x168.png 300w, https://crypto.ro/en/wp-content/uploads/2024/03/BTCUSD_2024-03-15_14-56-07-1024x572.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/03/BTCUSD_2024-03-15_14-56-07-768x429.png 768w, https://crypto.ro/en/wp-content/uploads/2024/03/BTCUSD_2024-03-15_14-56-07-750x419.png 750w, https://crypto.ro/en/wp-content/uploads/2024/03/BTCUSD_2024-03-15_14-56-07-1140x637.png 1140w" sizes="(max-width: 1534px) 100vw, 1534px">
 <figcaption id="caption-attachment-35290" class="wp-caption-text">
 BTC/USD
 </figcaption>
</figure>
Following a new all-time high of over $73,000, Bitcoin’s price experienced a downturn, reaching $69,000 on Thursday and continuing to fall, trading in the $66,000 range on Friday.
This recent market movement has led to significant liquidations, with data from <a href="https://www.coinglass.com/LiquidationData" rel="noopener noreferrer nofollow" target="_blank">CoinGlass</a> showing that 193,431 traders were liquidated in the past 24 hours, totaling $682.14 million in liquidations.
Market analysts suggest that the current volatility, regulatory uncertainties, and macroeconomic factors are contributing to a more cautious approach from investors.
The upcoming Federal Open Market Committee (FOMC) meeting is also anticipated to influence market sentiment, as it may provide insights into the Federal Reserve’s future interest rate plans.

Spot Bitcoin ETFs See a 80% Decrease in Net Inflows

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