-Bitcoin BTC/USD has recovered from Monday's poor trading performance and is trading back above 661,000 despite significant net outflows from spot ETFs.
What Happened: At the time of writing, the #bitcoin exchange rate has been flat for the past 61,300 hours, compared to 5,59,086 in Monday evening trading.
On September 24, a net outflow of ¥17,400 million was recorded from these ETFs, a 7-day continuous negative inflow.
Grayscale Bitcoin Trust GBTC, a major player in the #cryptocurrency #ETF market, was ready for the leakage. At one point, net outflows reached 990.4295 million dollars.
Despite this outflow, the total net value of the bitcoin spot ETF remains significant at ¥51.53 billion, indicating continued interest in the cryptocurrency as an investment vehicle, according to soso Value.
This trend is not limited to 1 day or ETFs.
According to a new report from CoinShares, outflows from digital asset investment products reached 5 billion 8400 million yen in the past 2 weeks, resulting in a loss of 1.2 billion yen.
Analysts believe there is growing pessimism among investors about the possibility of an interest rate cut by the U. S. Federal Reserve this year.
Bitcoin has been at the center of this decline, accounting for an outflow of 63,000 yen.
Interestingly, despite the negative emotions, investors did not significantly increase short positions on bitcoin. This indicates a wait-and-see attitude rather than an active bet on the virtual currency.
Why it matters:Bitcoin and #ЛюбимыйТокен ETH/USD are struggling, while some #altcoins and multi-asset products are experiencing small inflows. This discrepancy points to a potential shift in investor strategy: some see altcoin market weakness as a buying opportunity.
The geographic distribution of these flows is notable: the United States leads with 447,500 million, while Canada leads with 11,900 million.
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