🚀🌕 Bitcoin enthusiasts, buckle up! On Monday, May 13, Hong Kong's spot Bitcoin and Ethereum ETFs experienced a whopping outflow of $39.3 million, the highest since their launch on May 2, according to Farside Investors. This includes a loss of $32.7 million from Bitcoin funds and $6.6 million from Ethereum funds. This big outflow day has turned the tide, erasing all gains since the launch. 😱💨
On the flip side, the US Bitcoin ETFs were basking in the sun with a daily inflow of $66 million on the same day. 🎉💰 Fidelity's FBTC fund led the pack with $38.6 million, followed by Bitwise BITB with $20.3 million.
As for the crypto market, it's gained around 2% to reach a total capitalization of $2.40 trillion. Bitcoin reached $63,000 in early trading in Asia on Tuesday but has slightly retreated to $62,500. Ethereum, on the other hand, remains weak at $2,930, unable to break the $3,000 resistance.
Despite the outflows in Hong Kong, the US market seems to be holding strong. Let's keep our eyes on the prize, BTC lovers! 🚀👀🌕