On Tuesday, June 11, US Bitcoin exchange-traded funds (ETFs) recorded net outflows of $200 million.
This comes as the market awaits crucial economic indicators, including Consumer Price Index (CPI) data and Federal Open Market Committee (FOMC) decisions today, Wednesday, June 12.
The end of the series of Bitcoin ETF inflows:
Farside Investors data showed that Grayscale's Bitcoin Trust (GBTC) topped the list of Bitcoin exchange-traded funds that saw the largest outflows, with net outflows reaching $121 million.
Ark Invest's ARKB fund followed with inflows of $56.5 million.
Other funds such as Bitwise's BITB also recorded outflows of $11.7 million, while Fidelity and VanEck funds saw smaller inflows, amounting to $7.4 million and $3.8 million, respectively.
It is worth noting that some funds, such as BlackRock's IBIT, saw no activity on Tuesday.
This wave of outflows marks the end of a 19-day streak.
These outflows come at a sensitive time, as investors are eagerly awaiting the results of important economic indicators from the United States.
Consumer Price Index (CPI) data is expected today, which will likely influence the Fed's decisions on the interest rate path.
According to a CNBC report, the Consumer Price Index is expected to register a slight increase of 0.1% compared to April, reflecting the general trend of slowing inflation.
Regarding interest rate decisions by the Federal Reserve, expectations indicate a 99.4% probability of maintaining the current interest rate at 5.50%.
However, Reuters polls indicate that there is a possibility of two possible interest rate cuts during this year, starting in September.
