Bitcoin ETF

Bitcoin

April

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/sharp-decline-in-bitcoin-etf-flows-hits-crypto-market/" data-wpel-link="internal">Sharp Decline in Bitcoin ETF Flows Hits Crypto Market</a> 
On April 1st, the first trading day of the new month, total flows for all nine US spot <a href="https://coin-turk.com/unlu-isimden-bitcoin-icin-cesur-tahmin-yuzde-5800" data-wpel-link="internal">Bitcoin ETFs</a> turned negative once again, signaling a concerning trend for investors. Outflows from Grayscale’s spot <a href="https://en.coin-turk.com/bitcoin-analyst-warns-of-further-decline-after-recent-drop/" data-wpel-link="internal">Bitcoin</a> ETF, GBTC, exceeded $300 million, significantly contributing to the overall net outflows from ETFs. 
<h2 style="text-align: justify" id="strong-etf-downtrend-impacts-bitcoin-and-altcoins-strong">ETF Downtrend Impacts Bitcoin and Altcoins</h2> 
Data indicates significant activity in spot Bitcoin ETFs on April 1st, with a total net outflow of $85.84 million. BlackRock‘s spot Bitcoin ETF, IBIT, saw a net inflow of $165 million on that date, while Fidelity‘s FBTC experienced a net inflow of $43.99 million. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-336269" src="https://coin-turk.com/wp-content/uploads/2024/04/Spot-Bitcoin-ETF.jpeg" alt="" width="1280" height="720"> 
Despite the recent negative trend, cumulative net inflows for spot Bitcoin ETFs continue to be impressive at $12.04 billion, indicating sustained investor interest in the asset class. 
Amidst the negative flows in ETFs, Bitcoin’s price sharply fell, experiencing a 5.5% drop to $66,000. This decline affected the overall crypto market, leading to significant liquidations in the last 24 hours. Interestingly, this sharp drop occurred as we approach the 4th Bitcoin block reward halving event, expected just 19 days later, challenging analysts’ expectations of <a href="https://en.coin-turk.com/bitcoin-and-ethereums-fate-decided-today-market-watch/" data-wpel-link="internal">BTC</a> reaching $75,000 by the halving. 
<h2 style="text-align: justify" id="strong-investors-focus-on-the-federal-reserve-s-actions-strong">Investors Focus on the Federal Reserve’s Actions</h2> 
The recent downturn and loss of momentum in the crypto market seem to be triggered by ongoing inflationary pressures in the US, leading to a more cautious stance in global markets. As a result, investors’ expectations for a looser monetary policy and interest rate cuts by the Fed are diminishing. Stefan von Haenisch, the trading manager at OSL SG Pte in Singapore, noted that the anticipation of the Fed lowering interest rates is resonating in the crypto market and is being closely monitored, highlighting its significance for the market. 
This cautious sentiment is clearly visible in the observed downturn in the crypto market, affecting various sectors within the industry. In particular, branches of altcoins, such as memecoins, which have outperformed Bitcoin in the last six months, have been significantly impacted by this mood. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/sharp-decline-in-bitcoin-etf-flows-hits-crypto-market/" data-wpel-link="internal">Sharp Decline in Bitcoin ETF Flows Hits Crypto Market</a></h5>

Sharp Decline in Bitcoin ETF Flows Hits Crypto Market

Indice dei contenuti

COINTURK NEWS

Altri articoli pubblicati su 2 apr 2024

Why Crypto Market Is Down Today!

Bitcoin’s price crashes to $66K: Blame the halving or something else?

Solana Whales Are Making Moves – Here’s The Direction They’re Headed In

Bitcoin Cash Halving Countdown; BCH Hits Highest Price Since 2021

Crypto Markets Tumble as US Economic Data Shifts Expectations

BNB Chain’s $1M Meme Challenge

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!