Bitcoin ETFs see $910M in outflows amid macroeconomic pressure
U.S. spot Bitcoin ETFs recorded $910 million in outflows over the past 2 weeks, split between $681.1M in week 1 and $228.6M in week 2
A) Higher-than-expected U.S. CPI reignited fears of interest rates staying higher for longer, weighing on risk assets.
B) Bitcoin retreated toward the $81,000 zone, trading below the ETFs’ average purchase cost. This triggered more than $900M in long liquidations in derivatives.
C) Despite the withdrawals, ETFs have accumulated more than $56,000M in historical net inflows. The market is assessing whether the coming weeks will mark an accumulation bottom.
#Binance #BinanceSquare #crypto
$BTC
U.S. spot Bitcoin ETFs recorded $910 million in outflows over the past 2 weeks, split between $681.1M in week 1 and $228.6M in week 2
A) Higher-than-expected U.S. CPI reignited fears of interest rates staying higher for longer, weighing on risk assets.
B) Bitcoin retreated toward the $81,000 zone, trading below the ETFs’ average purchase cost. This triggered more than $900M in long liquidations in derivatives.
C) Despite the withdrawals, ETFs have accumulated more than $56,000M in historical net inflows. The market is assessing whether the coming weeks will mark an accumulation bottom.
#Binance #BinanceSquare #crypto
$BTC