Bitcoin

April

Billion

<ul>
  
 <li><strong>BTC ETFs face $1.2 billion in outflows over eight days, indicating a shift in investor sentiment and potential market consolidation.</strong></li>   
 <li><strong>The correlation between Bitcoin's price and ETF fund flows reveals a break from the upward move.</strong></li>   
 <li><strong>Recent continuous outflows have disrupted the BTC ETF market, signaling a deviation from expected growth and reflecting a cautious investor outlook.</strong></li> 
</ul>   
<p>Bitcoin exchange traded funds are recording a notable decline in cumulative fund flows, dropping below a trend that began in March. This downward movement is marked by eight consecutive days of outflows, amounting to $1.2 billion.</p>   
<h2 class="wp-block-heading" id="h-eight-days-of-continuous-outflows">Eight Days of Continuous Outflows</h2>   
<p>The BTC ETF market, which had been on a upward trend since March, has encountered a movement. Over the past eight days, the market has seen continuous outflows totaling $1.2 billion, signaling a possible change in investors.&nbsp;</p>   
<p>These outflows have brought the cumulative fund flows below the levels set earlier in the year, indicating a break in the positive momentum that had represented the market for months.</p>   
<p>Timothy Peterson noted in X Space's account that <a href="https://cryptonewsland.com/bitcoin-surges-to-55155-as-bull-market-gains-dynamism/" target="_blank" rel="noreferrer noopener">Bitcoin's</a> price and ETF fund flows have shown a strong correlation, with both rising until April 2024. However, recent trends reveal a decline in ETF fund flows, falling below the long-term upward trendline.&nbsp;</p>   
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<p>The recent outflows totaling $1.2 billion over eight consecutive days indicate possible reduced confidence in Bitcoin ETFs, highlighting a deviation from expected growth and signaling a period of market consolidation.</p>   
<h2 class="wp-block-heading" id="h-bitcoin-market-price">Bitcoin Market Price</h2>   
<p>During the hour of writing, Bitcoin price <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noreferrer noopener">traded </a>at $55,516.87, with&nbsp; a 3.14% increase in the last 24 hours. The market cap has risen by 3.16% to over $1.096 trillion while Trading volume has surged by 66.22%, reaching $27.3 billion.</p>   
<p>The circulating supply stands at approximately 19.75 million BTC, 94.06% of its total supply of21 million BTC. The fully diluted market cap is valued at $1.163 trillion. Over the last 24 hours, Bitcoin’s price has shown upward momentum, with notable resistance around the $55,000 mark, and has fluctuated within a range of $53.83K to $55.52K. The volume-to-market cap ratio is at 2.50%.</p> 
<p>The post <a href="https://cryptonewsland.com/bitcoin-etfs-record-1-2-billion-outflow-over-eight-consecutive-days/">Bitcoin ETFs Record $1.2 Billion Outflow Over Eight Consecutive Days</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Bitcoin ETFs Record $1.2 Billion Outflow Over Eight Consecutive Days

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