Solana

Bitcoin

Grayscale Bitcoin Trust

Digital asset inflows into crypto investment products turned positive in the past week, with net inflows of $862 million compared to net outflows of $931 million a week prior.
However, the popularity of spot Bitcoin exchange-traded funds seems to be cooling down. The daily trading volume of exchange-traded funds (ETFs) has dropped to $5.4 billion, 36% less than its peak of $9.5 billion recorded in the first week of March.
Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) topped the digital asset flows with $863 million in inflows aided by ETF demand, with spot BTC ETFs recording $1.8 billion in inflows compared to $965 million in outflows from the Grayscale Bitcoin Trust (GBTC).
Grayscale’s ETF continues to see massive outflows nearly three months on from the approval of the products in the United States on Jan. 11.
Continuous outflows from GBTC have put significant selling pressure on BTC prices over the past three weeks.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-04/95fcbd40-970f-441c-9f8a-4ed9e91e9cd3.png" alt="" title="">
 <figcaption style="text-align: center;">
 Grayscale Bitcoin holdings. Source: CoinGlass
 </figcaption>
</figure>
Market pundits had predicted that, over time, outflows from GBTC would slow down and dry up, leading to unprecedented demand for ETFs. 
However, the current investor trends indicate that the GBTC outflows are far from over, with GBTC still dominating ETF flows.
The selling pressure from ETFs is visible on the BTC price as the world’s top cryptocurrency dropped by $4,000 over the past 24 hours, trading just above $66,000 at the time of writing.
Many market analysts have called it a routine correction before the Bitcoin halving event scheduled for April 20.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-04/e724793d-bc54-439d-b5d9-77e8bcc41cb3.png" alt="" title="">
 <figcaption style="text-align: center;">
 Crypto market sentiment turns bearish. Source: <a href="https://x.com/CollinBrownXRP/status/1775028450203430913?s=20" target="_blank" rel="noopener nofollow">Marcel Knobloch</a>
 </figcaption>
</figure>
The BTC price correction saw nearly $500 million in liquidations while the options market heated up with heavy put calls, suggesting a bearish trader sentiment.
Related: <a href="https://cointelegraph.com/news/bitcoin-exchanges-btc-balances-dropped-10b-2024">Bitcoin exchanges’ BTC balances have dropped almost $10B in 2024</a>
Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) recorded its fourth consecutive week of outflows, with $19 million this past week. The altcoin market recorded a net inflow of $18.3 million last week, with Solana’s (<a href="https://cointelegraph.com/solana-price-index">SOL</a>) token leading the charge with $6.1 million in inflows. 
The U.S. is the region with the largest outflows in the past week, with $897 million, while Europe and Canada combined saw $49 million in outflows.
Magazine: <a href="https://cointelegraph.com/magazine/bitcoin-etf-coinbase-honeypot-hackers-government-trezor-ceo/">Bitcoin ETFs make Coinbase a ‘honeypot’ for hackers and governments — Trezor CEO</a>

Digital asset inflows recover, but ETF activity is slowing down

Cointelegraph

2024年4月2日公開の他の記事

Bitcoin in freefall: Cryptoinvestors on the brink of financial disaster?

Why is The Bitcoin (BTC) Price Down Today?

Stratos partners with Nimble Network

Best Crypto for Higher Returns: Immutable (IMX) Prediction Stabilizes & DYDX Adjusts as BlockDAG ...

Analysts Weigh In as Crypto Halving Approaches

Shiba Inu Highlights Major Achievement Made by BONE Token

ニュースレターを購読して暗号資産の最新情報を毎日入手！