What are institutional funds up to? 🏦
According to Farside data, U.S. spot Bitcoin funds recorded net outflows of around $643 million on October 30—their largest daily outflow since June.
The week started with four days of inflows (about +$440 million), but Friday wiped them out, bringing the weekly net total to around -$202 million.
Funds $ETH also saw about $155.7 million flow out that same day.
Why does this matter? These funds have become one of the biggest drivers of the price of $BTC . Today's data, on Monday, will show whether outflows continued or eased.
Not financial advice.
Do you follow ETF flows, or do you think their importance is overstated?
#BinanceSquare #BitcoinETF #Bitcoin
According to Farside data, U.S. spot Bitcoin funds recorded net outflows of around $643 million on October 30—their largest daily outflow since June.
The week started with four days of inflows (about +$440 million), but Friday wiped them out, bringing the weekly net total to around -$202 million.
Funds $ETH also saw about $155.7 million flow out that same day.
Why does this matter? These funds have become one of the biggest drivers of the price of $BTC . Today's data, on Monday, will show whether outflows continued or eased.
Not financial advice.
Do you follow ETF flows, or do you think their importance is overstated?
#BinanceSquare #BitcoinETF #Bitcoin
