Ethereum

Bitcoin

<ul> 
 <li>Grayscale’s Bitcoin Trust (GBTC) sheds $82 million, overtaken in outflows by Ark Invest’s ARKB on April 2nd.</li> 
 <li>Bitcoin’s price slumps to $64,673 as crypto ETFs trade less volume than in March.</li> 
 <li>“Automated trading protocols in Asia reacting to Bitcoin ETF data” are cited as a factor in BTC’s recent crash.</li> 
</ul> 
<p><strong>Find out why Bitcoin and Ethereum are slipping, which crypto ETFs are seeing outflows, and what analysts project for the crypto market.</strong></p> 
<h2 id="strong-grayscale-s-bitcoin-etf-outpaced-in-outflows-btc-price-struggles-strong"><strong>Grayscale’s Bitcoin ETF Outpaced in Outflows, BTC Price Struggles</strong></h2> 
<p><a href="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/04/Farside-Bitcoin-ETF-Flows-3-APRiL.webp?quality=70&amp;ssl=1"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-137442" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/04/Farside-Bitcoin-ETF-Flows-3-APRiL.webp?resize=696%2C618&amp;quality=70&amp;ssl=1" alt="Farside Bitcoin ETF Flows 3 APRiL" width="696" height="618" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/04/Farside-Bitcoin-ETF-Flows-3-APRiL.webp?w=1786&amp;quality=70&amp;ssl=1 1786w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/04/Farside-Bitcoin-ETF-Flows-3-APRiL.webp?resize=300%2C266&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/04/Farside-Bitcoin-ETF-Flows-3-APRiL.webp?resize=1024%2C909&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/04/Farside-Bitcoin-ETF-Flows-3-APRiL.webp?resize=768%2C682&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/04/Farside-Bitcoin-ETF-Flows-3-APRiL.webp?resize=1536%2C1364&amp;quality=70&amp;ssl=1 1536w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/04/Farside-Bitcoin-ETF-Flows-3-APRiL.webp?resize=150%2C133&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/04/Farside-Bitcoin-ETF-Flows-3-APRiL.webp?resize=696%2C618&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/04/Farside-Bitcoin-ETF-Flows-3-APRiL.webp?resize=1068%2C948&amp;quality=70&amp;ssl=1 1068w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/04/Farside-Bitcoin-ETF-Flows-3-APRiL.webp?w=1392&amp;quality=70&amp;ssl=1 1392w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></a></p> 
<p>Grayscale’s flagship Bitcoin Trust (GBTC) is losing its dominance in daily outflows, surpassed by Ark Invest’s ARKB which saw $88 million leave on April 2nd. This shift comes amidst Bitcoin’s (BTC) struggle to regain upward momentum, having dipped as low as $64,673 according to CoinGecko. March saw crypto ETFs trading $111 billion, but April is unlikely to match that volume due to decreasing demand.</p> 
<h3 id="strong-blackrock-and-fidelity-etfs-still-experience-inflows-strong"><strong>BlackRock and Fidelity ETFs Still Experience Inflows</strong></h3> 
<p>Despite the overall trend, other Bitcoin ETFs still saw net inflows on April 2nd, totaling $38.8 million. BlackRock’s IBIT holds the lead, with Fidelity’s FBTC in second place.</p> 
<h3 id="strong-what-s-behind-bitcoin-s-crash-strong"><strong>What’s Behind Bitcoin’s Crash?</strong></h3> 
<p>A Bloomberg report suggests that automated trading protocols in Asia, reacting negatively to Bitcoin ETF data, played a significant role in Tuesday’s large cryptocurrency selloff. These bots, as explained by Arbelos Markets, scrape ETF data and place orders accordingly. This highlights the growing potential for market influence by automated systems.</p> 
<h3 id="strong-analyst-s-perspective-etfs-vs-other-factors-strong"><strong>Analyst’s Perspective: ETFs vs. Other Factors</strong></h3> 
<p>Though Bitcoin’s surge in early March aligns with strong ETF inflows, leading analyst Eric Balchunas believes larger market forces are more dominant than ETF activity when it comes to BTC price action.</p> 
<h3 id="strong-conclusion-strong"><strong>Conclusion</strong></h3> 
<p>The recent shift in outflows from Grayscale’s Bitcoin ETF paired with Bitcoin’s price struggles raises questions about investor sentiment in the near future. While some ETFs still see inflows, automated trading’s impact on the market highlights an evolving landscape for cryptocurrency.</p>

Bitcoin and Ethereum Fall as Grayscale ETF Outflows Top Ark Invest’s ARKB

Table of Contents

CO NEWS

Other articles published on Apr 3, 2024

XRP whales enter $170M selling spree as SEC fines Ripple $2B

Crypto Market Crash: Bitcoin Price Might Drop to This Level While Altcoins To Plunge 30-40%

NFT Market 2024: Will It Observe Returns Like the 2021 Rally?

Breaking: Coinbase To Integrate Bitcoin Lightning Network Via Lightspark

Bitcoin hits record high amid global currency devaluations

Here’s Why Shiba Inu Price May Extend Correction by 15%, But There’s a Twist

Join our free newsletter for daily crypto updates!