Bitcoin ETF

Bitcoin

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On Monday, BlackRock's record-breaking iShares Bitcoin Trust (IBIT) <a href="https://x.com/FarsideUK/status/1828278073994670437" rel="noopener noreferrer nofollow">managed</a> to attract an eye-popping $224 million worth of inflows.&nbsp;
The net flows for Aug. 26 stand for $202 million. Apart from BlackRock's IBIT, Franklin Bitcoin ETF (EZBC) and WisdomTree Bitcoin Fund (BTCW) are in the green with $5.5 million and $5.1 million worth of inflows, respectively.&nbsp;&nbsp;&nbsp;
Ark 21Shares Bitcoin ETF (ARKB), Invesco Galaxy Bitcoin ETF (BTCO),&nbsp; Coinshares Valkyrie Bitcoin Fund ETF (BRRR) as well as Grayscale's products recorded zero net flows on Monday.&nbsp;&nbsp;
In the meantime, Bitwise Bitcoin ETF (BITB) recorded substantial outflows of $16.6 million. Fidelity Wise Origin Bitcoin Fund (FBTC) and VanEck Bitcoin ETF (HODL) are also in the red with $8.3 million and $7.2 million respectively.&nbsp;
<h2 id="bitcoin-remains-under-bearish-pressure">Bitcoin remains under bearish pressure&nbsp;</h2>
Despite the substantial inflows recorded by BlackRock, the price of Bitcoin remains under bearish pressure. According to CoinGecko data, it is currently changing hands at $63,191, down 1.3% over the past 24 hours.&nbsp;
As noted by cryptocurrency analytics platform Santiment, the Bitcoin price dip caused a 7.5% plunge in open interest. For comparison, major altcoins have recorded insignificant drops in open interest.&nbsp;
The term "open interest" refers to the total value of all outstanding derivatives contracts.&nbsp;
According to Santiment, the sudden drop in open interest might indicate that traders have started gravitating toward altcoins.
As&nbsp;<a href="http://tomahawk" rel="noopener noreferrer nofollow">reported by U.Today</a>, Bitcoin dominance is now approaching yet another multi-year high.&nbsp;

Bitcoin (BTC) Price Under Pressure Despite Massive Inflows of BlackRock ETF

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