The U.S. spot bitcoin exchange-traded funds experienced net outflows of $200 million on Tuesday — continuing the outflows from Monday that ended their record streak of net inflows.🥈✅

🥰Grayscale’s GBTC witnessed the largest amount of net outflows, totaling $121 million on Tuesday, followed by Ark Invest’s ARKB with $56 million in net outflows, according to SoSoValue data. Bitwise’s BITB reported $12 million in outflows, while Fidelity and VanEck experienced single-digit net outflows.🎗🎗

Outflows prevailed among U.S. spot bitcoin ETFs as other funds, including BlackRock’s IBIT, recorded zero flows on Tuesday.✅✅

The 11 spot bitcoin ETFs concluded their 19-day consecutive run of net inflows on Monday, with outflows totaling $64.93 million. 🥳🥳As of Tuesday, the funds have accumulated a total net inflow of $15.42 billion since their inception in January.

📶📶Markets are now anticipating key economic indicators from the U.S. later on Wednesday — the Federal Open Market Committee meeting results and the Consumer Price Index data.

The latest CPI, a crucial inflation indicator, is expected to show a 0.1% increase from April, suggesting a broader disinflationary trend, according to a CNBC report.🤔🤔

The Federal Reserve’s rate-setting meeting is anticipated to yield no surprises, with CME Group forecasting a 99.4% probability that the Fed will maintain the current interest rate of 5.25% to 5.50%, rather than implementing a rate cut.💎💎 However, a Reuters poll of economists indicated that the Fed is likely to reduce rates twice this year, beginning in September.💯

Bitcoin trades at $67,500, down from from last week’s peak of nearly $72,000, according to The Block’s bitcoin price page.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. 😇😇Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.✈️✈️

This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.🧡

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