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Bitcoin

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<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>US Bitcoin ETFs recorded $65 million in outflows on June 10, breaking the 19-day inflow streak.</li> 
 <li>BTC is trading below $68k, ahead of important economic US data.</li> 
</ul> 
<p>According to the latest reports coming from<a href="https://sosovalue.xyz/assets/etf/us-btc-spot" rel="nofollow noopener" target="_blank"> SoSoValue</a>, Bitcoin ETFs in the US recorded $65 million in outflows yesterday, June 10, for the first time after 19 consecutive days of net inflows.</p> 
<p>Here are the inflows and outflows that BTC ETFs in the US saw the other day:</p> 
<ul> 
 <li>Grayscale’s Bitcoin ETF, GBTC, recorded $40 million in outflows.</li> 
 <li>Fidelity’s Bitcoin ETF, FBTC, saw $3 million in outflows.</li> 
 <li>BlackRock’s Bitcoin ETF, IBIT, saw $6 million in inflows.</li> 
 <li>Bitwise’s Bitcoin ETF, BITB recorded $8 million in inflows.</li> 
 <li>Invesco and Galaxy Digital’s Bitcoin ETF, BTCO saw $20 million in outflows.</li> 
 <li>Valkyrie Digital Assets’ Bitcoin ETF, BRRR, recorded $16 million in outflows.</li> 
</ul> 
<p>The other crypto products did not record any inflows or outflows on June 10. The total net asset value of the Bitcoin ETFs was $61.4 billion, according to the same data.</p> 
<figure id="attachment_44564" aria-describedby="caption-attachment-44564" style="width: 100%" class="wp-caption alignnone">
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  SoSoValue
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<p>However, according to the latest reports, <a href="https://crypto.ro/en/news/bitcoin-etfs-acquired-1-78b-last-week-almost-2-months-of-btc-mining-supply/">US Bitcoin ETFs</a> acquired the equivalent of about two months’ worth of crypto mining supply in the first trading week of June.</p> 
<h2 id="bitcoin-trades-below-68k-ahead-of-us-economic-data">Bitcoin trades below $68k ahead of US economic data</h2> 
<p>At the moment of writing this article, BTC is trading below $68k.</p> 
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<p>The coin’s price dropped Friday due to conflicting US non-farm payroll data and unemployment data. This uncertainty caused investors to move away from riskier assets, notes crypto trading firm QCP Capital.</p> 
<p>Important macro events are set to be released this week as well. Market participants are now waiting for the release of the U.S. <a href="https://www.investing.com/economic-calendar/cpi-733" rel="nofollow noopener" target="_blank">Consumer Price Index</a> (CPI), a key measure of inflation set for June 12, and the Federal Open Market Committee meeting expected this week on June 13.</p> 
<p>Uncertainty in the economic space is <a href="https://crypto.ro/en/news/top-4-heavyweight-events-this-week-that-could-impact-bitcoin/">reflected</a> in the crypto market as well. CME Group predicts a 99.4% chance that the Fed will maintain the current interest rate of 5.25% to 5.50%.</p> 
<p>On the other hand, a <a href="https://www.reuters.com/markets/us/ny-fed-survey-finds-mixed-views-future-path-inflation-may-2024-06-10/" rel="nofollow noopener" target="_blank">Reuters</a> poll of economists suggests that the Fed is likely to cut rates twice this year, starting in September.</p>

Bitcoin ETFs Record $65M Outflows Following 19 Inflow Days Amidst Inflation Concerns

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