At the time of writing, the Bitcoin price was about to close for the day and is at $70,700. DOGE was the star of the day and returned to $0.22, which it had not seen in a long time. For altcoins, the following hours will be positive only if the daily closing is within the current range. So what is the latest situation in the ETF channel?
Spot Bitcoin ETF March 28
Last week, we all saw how the sales in the ETF channel fluctuated the spot markets. We have experienced two things. First, demand in the ETF channel may not remain strong indefinitely. Secondly, the selling trend in this channel very quickly pumps negativity into crypto exchanges.
It is not known when it will come, but we can say that the next bear market may be much more severe with excessive sales in the ETF channel, while we have not seen the bull peak yet. Data started to arrive on March 28 and was generally positive. GBTC outflows were limited to $104.9 million. The good news is that inflows in the BITB ETF exceeded $67 million. There was also an above-average inflow of 27 million dollars for ARKB.
Although Fidelity and IBIT volumes are lower on March 28 (compared to March 27), a net inflow similar to yesterday will occur as GBTC saw weak outflow. This means markets could continue to rise as Asian investors start the day.