Bitcoin ETFs had their worst week in March, with outflows of almost $1 billion. Is the initial enthusiasm cooling?
Bitcoin ETFs started April with strong outflows: what’s behind it and how much it affects the price of BTC
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Bitcoin ETFs had their worst week in March, with outflows of almost $1 billion. Last week, however, Bitcoin ETFs had rallied. The latest data shows a slowdown in general activity. What is the market analyzing before the halving?
Bitcoin Price Action Is Moving in Tune with ETF Price. In fact, the best day for spot Bitcoin ETFs was when inflows of more than $1 billion were recorded, which coincided with Bitcoin’s all-time high of $73,000.
Despite recent outflows of investment flows, Bitcoin spot ETFs closed March with a week of continuous inflows of $860 million, reversing the trend of the previous week, when the product group saw outputs of almost US$900 million.
The team of CoinShares explained that while last week’s recovery for the fund group in terms of inflows is “encouraging,” the data shows a slowdown in overall ETF activity that could ultimately mean that the “initial market enthusiasm is cooling.”
The descent of Bitcoin Tuesday caused liquidations of more than $480 million in leveraged positions. Monday’s exits, for their part, coincided with a reversal in the price of Bitcoin (BTC), which is currently registering a loss of more than 5% in the last 24 hours.
Source: Ambito
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