Bitcoin

<p>Recent massive capital outflows from Bitcoin ETFs raise questions: should this be seen as a harbinger of deeper turbulence? Are investors abandoning ship, or is this just a temporary adjustment? With withdrawals reaching $139 million in one day, the current situation necessitates serious reflection.</p>
<h2 id="h-the-sharp-rise-in-outflows-from-bitcoin-etfs">The sharp rise in outflows from Bitcoin ETFs</h2>
<p>Recently, capital outflows from Bitcoin ETFs <a href="https://www.cointribune.com/en/bitcoin-etfs-plummet-crypto-funds-in-crisis-since-march/" target="_blank" rel="noopener noreferrer nofollow">have intensified</a>, marking a worrying downward trend for this asset class. In a single day, on June 20, Bitcoin ETFs recorded <strong>capital outflows reaching $139.98 million</strong>, according to <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" target="_blank" rel="noopener noreferrer nofollow">data from SoSoValue</a>.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>Among the hardest hit, Grayscale Investments’ GBTC saw $53 million evaporate, followed by Fidelity Investments with $51 million. Bitwise and VanEck were not spared, recording withdrawals of $32 million and $4 million respectively.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://accounts.binance.com/en/register?ref=35547494" target="_blank" rel="noopener noreferrer nofollow">Buy cryptos with Binance</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<p>Only <strong>BlackRock’s <a href="https://www.cointribune.com/en/bitcoin-etfs-accumulate-19-consecutive-days-of-inflows-ibit-leading-the-way/" target="_blank" rel="noopener noreferrer nofollow">iShares Bitcoin Trust</a> has withstood the wave</strong>, even showing a small net capital inflow of $1 million. This dynamic illustrates a significant disinvestment by investors in Bitcoin ETFs, reflecting a loss of confidence in this asset class.</p>
<h2 id="h-the-impact-of-these-outflows-on-the-crypto-market">The impact of these outflows on the crypto market</h2>
<p>The capital outflows from Bitcoin ETFs are not without consequences for the broader bitcoin market. Indeed, the <strong>withdrawal of $900 million over the past week</strong> has contributed to a significant drop in the price of BTC.</p>
<p>June 20 marked the <strong>fifth consecutive day of outflows</strong>, culminating in a 2.8% drop in the price of bitcoin, now at $63,784.68.</p> 
<div class="tradingview-widget-container tradingview--mini-chart">
 <div class="tradingview-widget-container__widget"></div>
 <div class="tradingview--mini-chart--dark">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
 </div>
 <div class="tradingview--mini-chart--light">
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:BTCUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
 </div>
 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">BTCUSD chart</span></a> by TradingView
 </div>
</div> 
<p>This situation is reminiscent of the mid-April market woes. However, trading volume rose by 33.93% to nearly $26 billion, indicating resilience and a hope for rebound.</p>
<p>Investors are closely monitoring <a href="https://www.cointribune.com/en/the-wind-is-picking-up-for-bitcoin-etfs/" target="_blank" rel="noopener noreferrer nofollow">the performance of Bitcoin ETFs</a>, looking for <strong>signs of stabilization or recovery</strong> that could reverse the current trend.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noopener noreferrer nofollow">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<p>The outlook for Bitcoin ETFs remains uncertain, with a notable decline in interest in cryptocurrencies. However, patience and careful analysis could reveal future opportunities, despite current volatility.</p>

Bitcoin: ETF Outflows are Accelerating!

Зміст

Cointribune EN

Інші статті, опубліковані 21 черв. 2024 р.

Italian Government Is Set To Ramp Up Surveillance Of Crypto Market

Did Ripple mislead investors? California lawsuit targets CEO’s statements on XRP

Coinbase Calls for Legislative Support to Enhance Crypto Remittances

Italy considers $5.4m in penalties for crypto insider trading: report

ETFs Reduce Bitcoin Holdings Over Three Days

Nigeria’s SEC Sets 30-Day Deadline For VASP Application Updates

Приєднуйтеся до нашої безкоштовної розсилки для отримання щоденних оновлень щодо крипто!