Hey there, it seems like the Bitcoin ETFs in the U.S. are experiencing a bit of a rollercoaster ride lately! š¢ After four weeks of seeing some serious gains, they've hit a rough patch.
š¬ According to Farside Investors, they recorded a net outflow of $64.9 million on June 10. Ouch! š 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. š
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! š° 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. š
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. š„
But hey, in the world of crypto, every dip is just another opportunity, right? š
