CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
CoinGape 2024-12-28 08:33:37

Bitcoin ETF Records $287M Outflow Amid BTC Dip To $94K, What’s Next?

As the broader crypto market continues to tackle heightened volatility, Bitcoin ETF products also appear to have faced significant turbulence. Notably, recent market stats indicate that the US Spot BTC ETFs closed the week with $287 million outflows, raising market concerns amid BTC price dip to $94K. In turn, crypto enthusiasts are now thoroughly monitoring the flagship token’s future price movements amid declining institutional interest and recent volatility. Bitcoin ETFs Record $287M In Outflows Raising Market Concerns As per the latest data offered by Farside Investors , Bitcoin ETFs recorded $287.9 million worth of outflows as of December 27. The remarkable outflows, underlining declining institutional interest, have raised severe investor uncertainty amid the market’s current volatility. Data indicated that Fidelity’s FBTC registered $208.2 million in outflows yesterday. Further, even Ark Invest’s ARKB witnessed $112.6 million in outflows. Also, Bitwise’s BITB reported $36 million in outflows, whereas Invesco’s BTCO saw $14.2 million. Besides, it’s also worth mentioning that BlackRock’s IBIT saw $79.4 million in inflows. Nevertheless, data collectively hinted at a considerable decline in institutional interest, raising concerns over the flagship crypto’s future movements. Conversely, CoinGape also reported that BTC ETFs saw $450 million worth of inflows recently, which adds a contrasting tint to the asset’s future movements. The strong inflow suggests that a recovery for Bitcoin may also be possible moving ahead, whilst the current outflows are a direct result of market volatility. What’s Next For BTC? At the time of reporting, BTC price tanked nearly 0.5% intraday and is currently sitting at $94,214. Its 24-hour low and high were $93,310.74 and $97,294.85, respectively. Notably, weekly charts show a 5% drop in value, mirroring a turbulent crypto market whilst also aligning with outflows in Bitcoin ETF. The turbulency aligns with the U.S. Fed’s hawkish stance on rate cuts, with no major macroeconomic events until the next year. However, it’s worth mentioning that BTC whales are buying the dip, as reported by CoinGape. Besides, long-term prospects for the flagship crypto remain optimistic across the broader industry. Rich Dad Poor Dad author Robert Kiyosaki, a renowned name across the crypto industry, anticipates BTC price hitting $350K by 2025. Overall, despite the outflows and recent market volatility, Bitcoin showcases the potential for further gains ahead. The post Bitcoin ETF Records $287M Outflow Amid BTC Dip To $94K, What’s Next? appeared first on CoinGape .

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.