#BullorBear 📉 Bitcoin Dips Below $70,000 Amid Fading Optimism
On April 9, Bitcoin faced a downward trajectory, slipping below the $70,000 mark as optimism waned following the weekly close. Bitstamp reported a low of $69,635, marking a 4.3% decrease from the previous day's high.
📉 Intensified Downward Pressure:
As Wall Street prepared to open, downward pressure intensified, exacerbating Bitcoin's decline.
💸 ETF Outflows:
US spot Bitcoin ETFs experienced minimal inflow, while the Grayscale Bitcoin Trust (GBTC) recorded a significant $300-million outflow, resulting in negative net flows exceeding $200 million.
📉 Mixed ETF Performance:
Despite the overall outflows, BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity Investments’ Wise Origin Bitcoin Fund (FBTC) managed to maintain inflows, mitigating potential losses.
📊 Market Dynamics:
The market's reaction to Bitcoin's dip underscores the ongoing volatility and uncertainty in the cryptocurrency space.
Stay tuned for further updates on Bitcoin's price movements and market dynamics. #Bitcoin #ETFs #MarketUpdate 📉💼$BTC $ETH $BNB #BullorBear