A U.S. bitcoin fund Etf saw massive outflows on Monday as bitcoin fell below 93,000.
Eleven spot #bitcoin ETFs saw net outflows totaling ¥435 million. Only BlackRock's iShares Bitcoin Trust (IBIT) and Grayscale's Bitcoin Mini Trust (BTC) saw inflows.
According to Farside investors, IBIT saw net inflows of around ¥626,800 million, while #BTC saw net inflows of ¥440 million.
Bitcoin #ETF Bitwise (BITB) and Grayscale's Bitcoin Trust (GBTC) are facing significant outflows from investors. BITB has recorded the largest outflows in its history with the last $280 million, while GBTC has recorded the most significant daily redemptions in the last three months with AMD 158 million.
Bitcoin fund Fidelity Wise Origin (FBTC) and bitcoin fund ARK Invest (ARKB) have seen outflows of $113,500 million and $111,100 million, respectively. Invesco and Valkyrie funds lost a total of $11,900 million.
The sharp outflows marked a sharp decline from last week, when U. S. bitcoin funds raised $3.3 billion, with BlackRock's iShares Bitcoin Trust (IBIT) accounting for more than 60% of the total inflows.
The pullback came amid bearish sentiment in the #cryptocurrency market.
According to CoinGecko, bitcoin's recent surge towards the 100,000 mark was thwarted as it fell below the 93,000 mark. The flagship cryptocurrency is currently trading at around 94,300, down 3.5% in the past 24 hours.
According to Crypto Briefing, the decline came amid growing pressure from long-term holders who have sold more than 461,000 BTC since the asset's recent peak of 99,000, Crypto Briefing reported.
spite of the bearish trend, there is speculation that there is a possibility of a rebound if the price stabilizes and investor demand picks up again. On Monday, MicroStrategy announced the acquisition of another 55,500 BTC worth ¥54 billion. This is the largest bitcoin acquisition to date.
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