Bitcoin Spot ETF Exodus Continues: $900 Million Outflows Extend Losing Streak
Following the last trading window, the US Bitcoin Spot ETFs have recorded another week of overwhelming net outflows with investors pulling over $900 million from the market. This development marks the fifth consecutive week of redemptions indicating weak market confidence among institutional investors of the premier cryptocurrency. Related Reading: Ethereum Spot ETFs Outshine Bitcoin Counterparts With Double Market Inflows – Details Bitcoin Institutional Investors Withdraw For The Fifth Straight Week After a strong start to the year which saw the Bitcoin ETFs attract over $5 billion in....
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The Ethereum price has been a joy to watch in recent weeks after initially struggling to keep pace with other large-cap cryptocurrencies. However, the past week will be a quick one to forget for the crypto market, especially the altcoin, which declined in value by over 12%. While this price slump experienced by Ethereum has been linked to the US Federal Reserve rate cut, the recent drab performances of the spot ETH exchange-traded funds (ETFs) could also be associated. After a lengthy spell of positive inflows, investor interest in the US-based ETH ETFs seems to be losing momentum. Spot....
The Spot Bitcoin ETFs have seen their demand drop since the start of this month, and this was again evident in the considerable outflows recorded on April 26. This poor run has had far-reaching effects on the broader crypto market as Bitcoin’s price has succumbed to unfavorable market conditions. Spot Bitcoin ETFS Record $217 Million Of Outflows Farside Investors revealed in an X (formerly Twitter) post that the Spot Bitcoin ETFs recorded $217 million of net outflows on April 25, one of their largest this month. Grayscale’s Bitcoin Trust (GBTC) accounted for most of these outflows, with....
Spot Bitcoin ETFs have entered another disturbing trend, recording outflows for one week straight. These outflows have coincided with the decline in the Bitcoin price, suggesting that the sell-offs may be directly linked to institutional sell-offs, as well as miner sell-offs. The funds have now completed seven consecutive days of outflows, so this report takes a look at what happened the last time that the outflows were this high. Spot Bitcoin ETFs Lose Money For 7 Straight Days According to data from Coinglass, Spot Bitcoin ETFs have now marked their 7th consecutive day of outflows. An....
Crypto investment products tracking Ethereum and others registered another week of outflows last week, albeit at a lesser amount, to extend the run of outflows to three consecutive weeks. Digital investment products witnessed $30 million worth of outflows last week. However, this outflow deviated from the trend we normally observe, with Bitcoin taking a step […]
Despite the bitcoin price high, there continues to be a massive exodus of bitcoin leaving exchanges. Onchain data shows exchanges are being drained like a sieve and during the last 30 days, 87,954 bitcoin was withdrawn from the top crypto trading platforms. Back in December 2019, it was reported that the San Francisco-based exchange Coinbase held close to 1 million BTC for its users. In fact, in January 2020, Coinbase had around 969,000 BTC and the next month, it was up to its highest point of 973,000 BTC on February 10, 2020. But all year long, not only from Coinbase, but also a slew of....