The U.S. Bitcoin ETF attracted net inflows of US$817.5 million for the day as the overall cryptocurrency market rose on Tuesday and then paused.
According to analysts at BRN, #bitcoin has fallen 3.4 percent over the past 24 hours and is currently trading at US$BTC U. S. spot bitcoin funds recorded daily inflows of US$817.5 million on Tuesday, following US$1.1 billion in inflows the previous day.
According to SoSoValue, daily trading volume in 12 spot bitcoin ETFs totaled US$5.7 billion on Tuesday, up from US$7.3 billion on Monday and US$2.8 billion last Friday. BlackRock's
IBIT led Tuesday's inflows with US$778.3 million, bringing total trading volume for the week to US$1.93 billion. Fidelity's FBTC also contributed US$37.2 million, while Greyscale's Mini Bitcoin Trust and VanEck's HODL recorded inflows of more than US$10 million.
Outflows from Greyscale's GBTC, the second-largest spot bitcoin fund by net asset value, totaled US$17.8 million, while outflows from 21Shares' Ark and ARKB totaled US$5.4 million.
The significant inflows into the bitcoin #ETF fund came amid a general rally in the #cryptocurrency market, with bitcoin hitting several new highs over the past few days following President-elect Donald Trump's victory.
However, according to The Block's bitcoin price page, bitcoin, which briefly broke the $90000 mark on Tuesday, has fallen 3.4% in the past 24 hours to $86,855 at the time of writing. Ether has fallen 7.35% and is trading at $BTC BRN analyst Valentin Fournier said, The bitcoin rally paused with the appearance of the first red candle yesterday after reaching an intraday peak of $90000. This indicates profit taking by large investors, which may lead to a short-term correction before prices start to rise again, said BRN analyst Valentin Fournier.
upcoming events and technical indicators point to a possible price reversal, Fournier said.
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