According to Odaily, Lin Chen, Deribit's Asia-Pacific Business Head, reported on X that Bitcoin (BTC) Exchange-Traded Funds (ETFs) saw a net outflow of $829.9 million this week, with a total reduction of 10,358.34 BTC. A minor inflow of 160.44 BTC occurred on Wednesday, but the rest of the week experienced net outflows. BlackRock reduced its holdings by 4,239.38 BTC, while Fidelity decreased by 3,813.02 BTC. The current BTC price hovers around $84,000, with the market fear and greed index at 30, indicating fear. Market sentiment remains low due to the upcoming Federal Reserve meeting on March 20 and the tariffs set to be implemented in April, both challenging market confidence.
Similarly, Ethereum (ETH) ETFs faced severe outflows, with a weekly net outflow totaling $189.9 million and a reduction of 99,266.82 ETH. BlackRock reduced its holdings by 33,776.47 ETH, and Fidelity by 31,695.05 ETH, contributing to significant selling pressure. The ETH price has fallen below the $2,000 mark, and the ETH/BTC exchange rate continues to decline, currently at 0.0229.
