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<ul> 
 <li>The crypto market bleeds heavily as it faces two consecutive price dips.</li> 
 <li>A major reason causing this dip is the fact that Bitcoin Spot ETF outflows have risen.</li> 
 <li>For the first time in 19 days Bitcoin Spot ETF outflows outweigh the inflows.</li> 
</ul> 
<p>The crypto market bleeds red once again just after a dip caused by what the community expected to be a normal correction phase. As <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noreferrer noopener nofollow">Bitcoin (BTC)</a>, Ethereum (ETH), and other popular crypto dip in price, the crypto community scrambles to make sense of it.</p> 
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   <p lang="en" dir="ltr">On June 10, the total net outflow of Bitcoin spot ETFs was $64.9318 million, the first net outflow after 19 consecutive days of net inflows. Grayscale ETF GBTC had a single-day outflow of $39.5366 million, Bitwise ETF BITB had a inflow of $7.5910 million, and BlackRock ETF IBIT…</p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1800380122199101672?ref_src=twsrc%5Etfw">June 11, 2024</a>
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<p>To highlight, the top likely reason for the cause behind this second, more crucial dip could be in relation to the break in steady ETF inflows. As we can see from the post above, <a href="https://x.com/WuBlockchain?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor" target="_blank" rel="noreferrer noopener nofollow">Wu Blockchain</a> marks an astounding record for <a href="https://cryptonewsland.com/bitcoin-etfs-see-major-inflow-of-1901-btc-in-a-single-day/" target="_blank" rel="noreferrer noopener">Bitcoin Spot ETF inflows</a> and outflows.&nbsp;</p> 
<p>In detail, the total outflow of Bitcoin Spot ETF was $64.931 million, making it the first outflow following 19 consecutive days. Grayscale ETF saw $39.536 million in outflows while Bitwise saw $7.591 million and BlackRock saw $6.343 million.</p> 
<p>What’s more puzzling about this dip is the fact that it followed a dip caused by corrections. Most crypto community members are baffled by the fact that BTC holders are selling Bitcoin just before the arrival of the golden bull run.&nbsp;</p> 
<p>Meanwhile, other analysts see this dip as a healthy extension to the correction phase and are quite confident that the rally following the dip will be more fruitful because of it. Another notable observation is the fact that almost all coins were affected by this second dip.</p> 
<p>To specify, coins like <a href="https://cryptonewsland.com/jasmy-ton-and-not-rise-as-best-cryptos-to-accumulate-during-this-correction-phase-bullish-momentum-ahead/" target="_blank" rel="noreferrer noopener">TON, NOT, and JASMY did not dip</a> as much as other popular cryptos during the first initial dip. This led analysts to believe that the coins had been overbought or were experiencing high volumes which was not healthy for the token prices.&nbsp;</p> 
<p>However, it seems that the coins are back in a good place marketwise as the second dip led to a drop in their price value as well. This adds on again to the expectation of the seasoned analysts who believe a healthy price pump will follow for almost all assets very soon.</p> 
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4> 
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/ethereum-bleeds-as-price-nosedives-to-nearly-1500/">Ethereum Bleeds as Price Nosedives to Nearly $1500</a></li>
 <li><a href="https://cryptonewsland.com/xrp-bucks-trend-with-700k-inflows-as-bitcoin-and-ethereum-see-70m-outflows/">XRP Bucks Trend with $700K Inflows as Bitcoin and Ethereum See $70M+ Outflows</a></li>
 <li><a href="https://cryptonewsland.com/crypto-market-bleeds-as-president-biden-proposes-increase-tax-rate/">Crypto Market Bleeds as President Biden Proposes Increase Tax Rate</a></li>
 <li><a href="https://cryptonewsland.com/grayscales-gbtc-sees-positive-inflow-after-prolonged-downturn/">Grayscale’s GBTC Sees Positive Inflow After Prolonged Downturn</a></li>
 <li><a href="https://cryptonewsland.com/u-s-spot-bitcoin-etfs-maintain-15-day-inflow-streak-with-105m/">U.S. Spot Bitcoin ETFs Maintain 15-Day Inflow Streak with $105M</a></li>
</ul>          
<p>The post <a href="https://cryptonewsland.com/crypto-market-bleeds-again-correction-continues-as-etf-outflows-outweigh-inflows-for-first-time-19-days/">Crypto Market Bleeds Again, Correction Continues as ETF Outflows Outweigh Inflows for First Time 19 Days</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Crypto Market Bleeds Again, Correction Continues as ETF Outflows Outweigh Inflows for First Time 19 Days

Crypto News Land

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