Blackrock’s Ishares Bitcoin Trust (IBIT) has recorded the only inflow for the eleven-spot Bitcoin ETF for two consecutive days.
For the past two days, the bitcoin ETFs have experienced intense outflows, losing $186.3 million and $56.7 million, respectively.
Blackrock’s IBIT recorded a combined inflow of $79.2 million in the last two trading days, the only inflow for Bitcoin ETFs in the previous two days.
Farside Investors UK revealed that Fidelity’s FBTC led the outflows for the day, losing $43.6 million. Franklin’s EZBC followed suit, losing $11.1 million, while Investco’s BTCO and Bitwise BITB recorded outflows of $9.5 million and $9.3 million respectively.
WisdomTree’s Bitcoin ETF lost the least amount of funds, recording an outflow of $7.1 million yesterday.
Blackrock’s IBIT pulled in $23.8 million, the only inflow for the day, continuing a two-day trend. The Bitcoin ETFs lost a combined $243 million in the last two trading.
Bitcoin’s Price Slumped to $95,000 yesterday, losing over $4000 in 24 hours. Two distinct factors contributed to the slump: profit-taking and likely Resistance levels.
Many investors likely capitalized on recent gains by selling off some of their holdings, triggering a broader sell-off.
Bitcoin may have hit key technical resistance levels, prompting algorithmic trading systems and stop-loss orders to kick in.
At the time of the report, Bitcoin is exchanging hands for $96,150, dropping by 1.9% in the last 24 hours.
