Bitcoin ETF

Bitcoin

Reserve

<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 $175M exiting these funds. None of the Bitcoin ETFs saw inflows on the day, highlighting how wide-ranging the pullback is across these products.&nbsp;</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
   <p lang="en" dir="ltr">🚨 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$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>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<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

Inhaltsverzeichnis

BlockchainReporter

Weitere Artikel, die am 25. Juni 2024 veröffentlicht wurden

Ripple Supply on Exchanges Hits Lowest Level Since January: XRP Price Reacts

Alex Lab Links $4M Crypto Hack to North Korean Lazarus Group

The Pre-Sale Period for the New Cryptocurrency Sealana Ends in a Few Hours

BitDoge Memecoin Launches Presale on Bitcoin Network

US Residents Can Pay Federal Tax In Bitcoin (BTC) If This New Bill Becomes Law

Paybis Review 2024

Abonniere unseren kostenlosen Newsletter und erhalte tägliche Krypto-Updates!