💸 BITCOIN ETFs HAVE BEEN LOSING MONEY FOR 4 DAYS IN A ROW 📉
I was surprised to see that Bitcoin ETFs (funds that track its price and trade on the stock market) in the United States lost $95 million on Tuesday, marking 4 straight days of outflows. BlackRock’s fund alone, IBIT, lost $78 million—and it’s the eighth day in a row that money has been pulled out of it.
What’s interesting is that the bleeding is slowing down: more than $400 million was flowing out per day last week, compared with $95 million on Tuesday. In total, around $1.6 billion has flowed out of the ETFs in November.
To me, this shows that big investors are still nervous after the inflation report, but the fact that $BTC is still holding near $74,000 is no small thing.
Do you think these outflows are just a passing scare, or the start of something bigger?
#Bitcoin
I was surprised to see that Bitcoin ETFs (funds that track its price and trade on the stock market) in the United States lost $95 million on Tuesday, marking 4 straight days of outflows. BlackRock’s fund alone, IBIT, lost $78 million—and it’s the eighth day in a row that money has been pulled out of it.
What’s interesting is that the bleeding is slowing down: more than $400 million was flowing out per day last week, compared with $95 million on Tuesday. In total, around $1.6 billion has flowed out of the ETFs in November.
To me, this shows that big investors are still nervous after the inflation report, but the fact that $BTC is still holding near $74,000 is no small thing.
Do you think these outflows are just a passing scare, or the start of something bigger?
#Bitcoin
