Bitcoin ETF

Bitcoin

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<p>The recent analytics from <a href="https://spotonchain.ai/en" target="_blank" rel="noopener">Spotonchain</a> shed light on a troubling trend for Bitcoin ETFs, marking a continued negative net inflow that has persisted for a record seven days—the longest such streak observed since May of this year.&nbsp;</p> 
<p>This downturn in ETF performance signals a broader hesitation in market sentiment, possibly influenced by external economic pressures and investor skepticism regarding the immediate future of interest rates and economic policies.</p> 
<h2 class="wp-block-heading" id="persistent-outflows-indicate-waning-investor-confidence">Persistent Outflows Indicate Waning Investor Confidence</h2> 
<p>Spotonchain revealed that the lowest level of net inflow was recorded for <a href="https://blockchainreporter.net/price-prediction/bitcoin-price-prediction/">Bitcoin</a> ETFs compared to previous dates using data from June 24, 2024, collapsing by a massive $175M exiting these funds. None of the Bitcoin ETFs saw inflows on the day, highlighting how wide-ranging the pullback is across these products.&nbsp;</p> 
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   <p lang="en" dir="ltr">🚨 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a> <a href="https://twitter.com/hashtag/ETF?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#ETF</a> Net Inflow June 24, 2024: -$175M!<br><br>• The net inflow has been negative for 7 consecutive trading days, the longest streak since May.<br><br>• No Bitcoin ETF had an inflow yesterday.<br><br>• <a href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Grayscale</a> (GBTC) experienced the largest outflow yesterday.<br><br>• <a href="https://twitter.com/hashtag/BlackRock?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#BlackRock</a> (IBIT) has… <a href="https://t.co/8OPAfBSYR7" target="_blank">pic.twitter.com/8OPAfBSYR7</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1805451111979270315?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 25, 2024</a>
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<p>Notably, Grayscale’s Bitcoin Trust (GBTC) saw the largest outflow, signaling a significant shift in investor behavior. Conversely, BlackRock’s IBIT managed to maintain a non-negative net flow amidst this turmoil, presenting a silver lining in an otherwise gloomy scenario.</p> 
<p>Coinshares’ recent insights align with Spotonchain’s findings, revealing that digital asset investment products have experienced two consecutive weeks of outflows, totaling a staggering $584 million. This downturn has wiped nearly $1.2 billion off the market value, driven largely by a lack of optimism among investors concerning anticipated interest rate cuts by the Federal Reserve this year.&nbsp;</p> 
<p>Bitcoin, in particular, bore the brunt of these outflows with $630 million withdrawn. Despite the prevailing negative sentiment, multi-asset products witnessed inflows of $98 million, suggesting that some investors see the current weakness in the altcoin market as an opportunity for acquisition.</p> 
<h2 class="wp-block-heading" id="bitcoin-s-price-shows-resilience-amid-market-shake-up">Bitcoin’s Price Shows Resilience Amid Market Shake-up</h2> 
<p>Despite the turbulent market conditions and the massive outflows from Bitcoin ETFs, *BTC* price has shown remarkable resilience. After a sharp drop to $58,000, the cryptocurrency has managed to claw its way back above the $60,000 mark. Over the past 24 hours, it reached a high of $62,949, although it has since corrected to $60,672, marking a 3.2% decrease.&nbsp;</p> 
<p>This slight recovery indicates that while investor sentiment is shaky, the fundamental interest in Bitcoin remains robust, suggesting a potential stabilization or even a recovery if broader market conditions improve.</p>

Is the Bitcoin ETF Bubble Bursting? $175 Million Pulled Amid Market Downturn

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