US spot bitcoin ETFs saw $211 million in outflows, extending streak of negative flows
Spot bitcoin exchange-traded funds in the U.S. saw $211.15 million in net outflows on Thursday, recording their seventh consecutive day of negative flows.
Fidelity’s FBTC saw the largest amount of outflows among spot bitcoin ETFs, with $149.49 million, according to data from SoSoValue. Bitwise’s BITB followed with $30 million in net outflows. Both Grayscale’s GBTC and mini trust recorded outflows on Thursday: GBTC saw $23.22 million, while the mini trust saw $8.45 million move out from the ETFs.
There were no funds that recorded net inflows yesterday. The eight other funds, including BlackRock’s IBIT, logged zero flows for the day.
The total daily trading volume for the 12 ETFs declined further to $1.35 billion, down from $1.41 billion on Wednesday. The spot bitcoin funds have amassed total net inflows of $17.06 billion since launching in January.#USNonFarmPayrollReport $BTC
#GAL is moving in the bearish channel of a bullish flag pattern formed on the daily time frame.
The price is approaching the ceiling of the channel. Now, the price is ready to break the pattern. In case of a successful breakout, we can expect an upward movement of at least 50%.
For confirmation of bullish momentum, GAL needs to break above the pattern's upper boundary around $4.5. A successful breakout could lead GAL to retest $5.5 target strong resistance area.
The price of #ZENT moves in the bottom of its ascending channel in the daily time frame, and in the 4-hour time frame, it was able to break the downward trend line.
The price is breaking the resistance level of $9.30-$9.65. It seems that the bulls are buying, and there is a high probability that the price will rise to its previous ceiling of $15.00 and then $18.00.🚀🚀🚀 $ETH $BNB
#BinanceLaunchpool WELCOME TO THE DATA DEBRIEF! Welcome to the Data Debrief! Crypto and equity markets are surging following a reassuring inflation report. In other news, CME is reportedly planning to launch crypto trading, the Senate voted to kill a controversial crypto accounting policy, and 400+ financial institutions have invested in Blackrock’s BTC ETF. This week we explore:
ETH market structure ahead of the ETF decision
The resilience of meme tokens
Surging crypto activity in the US
Altcoin liquidity is improving
Trend of the Week ETH ETF HOPES FADE AS DEADLINE LOOMS. It’s another big week for crypto ETFs, and this time, Ethereum takes center stage.
The US Securities and Exchange Commission is set to respond to VanEck’s spot Ether ETF application by May 23. Similar to the spot Bitcoin ETF decision in January, this has been earmarked as the de facto deadline for all live applications from BlackRock, Fidelity, ARK Invest and others.
Market participants expect the SEC to deny or approve all applications at the same time to avoid creating disparities between issuers.
While the regulator has already issued several delay orders up to now, ETH has largely been unaffected by the news. A rejection has likely been priced in as expectations of approval waned over the past few months. #ETHETFS $BTC #BinanceLaunchpool