Hey there, it seems like the Bitcoin ETFs in the U.S. are experiencing a bit of a rollercoaster ride lately! 🎢 After four weeks of seeing some serious gains, they've hit a rough patch.
😬 According to Farside Investors, they recorded a net outflow of $64.9 million on June 10. Ouch! 😓 Especially for Grayscale Bitcoin Trust (GBTC), which took the biggest hit with $39.5 million in outflows.
But hey, it's not all doom and gloom! Bitwise Bitcoin ETF (BITB) and iShares Bitcoin Trust (IBIT) are still hanging in there with some inflows of $7.6 million and $6.3 million, respectively. 🚀
Now, let's talk numbers. The total net inflows of spot BTC ETFs soared past $15.6 billion over those four weeks, which is pretty impressive! 💰 But with investors feeling a bit cautious ahead of the U.S. CPI data release on June 12, things are a bit shaky. Last month's CPI hit 3.4%, as expected, which sparked some bullish vibes. 🐂
As a result, the global crypto market is feeling the pinch, with a 2.8% decline in the past 24 hours. Bitcoin took a dip to $67,600 and Ethereum is inching towards $3,500. It's a sea of red out there, with 94 out of the top 100 cryptocurrencies feeling the heat. 🔥
But hey, in the world of crypto, every dip is just another opportunity, right? 😉
