The 11 Bitcoin ETFs recorded a net outflow for the first time in four trading days.
The Bitcoin ETFs lost $234 million yesterday following outflows in four ETF funds.
Yesterday, put an end to heavy inflows in the Bitcoin ETFs with some of the ETF funds that recorded the heaviest inflows in the past days losing significant funds this time.
Overall, there was moderate investor activity yesterday, with five ETF funds recording transactions.
Fidelity’s FBTC led the outflows for the day, with $177.6 million leaving the funds. Ark 21 shares ARKB followed suit, losing $50 million.
Vaneck’s Hodl and Bitwise BITB recorded outflows of less than $50 million, losing $8.6 million and $5 million respectively.
Grayscale’s GBTC recorded the only Outflow for the day pulling in $8 million.
The remaining six ETF funds recorded no transactions for the day including Blackrock’s IBIT, the largest ETF fund by Inflows.
Bitcoin Still below $100,000 Price level
Bitcoin is still below the $100,000 price level following a general market downturn stemming from tariff wars between the USA, Mexico, Canada, and China.
On February 4, 2025, the United States implemented a 10% tariff on imports from China. action was part of a broader strategy to address national security concerns, particularly the influx of illegal drugs like fentanyl.
In response, China announced retaory measures, including a 15% tariff on U.S. coal and liquefied natural gas (LNG) and 0% tariff on U.S. crude oil and agricultural machinery*. Additionally, China initiated an antitrust investigation into Google.
These developments have heightened tensions between the two nations, with potential implications for global trade dynamics.
The crypto market lost about $10 billion to liquidations following the tariff wars, according to Bybit CEO Ben Zhou.
At the time of the report, Bitcoin is exchanging hands for $98.060, dropping by 2.6% in the last 24 hours.
