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Bitcoin ETFs End the Day on a Net Negative, Record Net Outflow of $135.2 million
The 11 Bitcoin exchange-traded funds (ETFs) in the U.S. have concluded their trading session with an unprecedented net negative result, reporting a record-breaking net outflow of $135.2 million. This marks the first time since January 2024 that these ETFs have collectively recorded such a significant and drastic decline.
Farside Investors UK revealed that Fidelity’s FBTC led the day’s outflows, losing a staggering $75.5 million. ARK 21 shares ARKB followed suit, shedding $60.2 million. The remaining ETF funds reported outflows ranging from $10 to $15 million, while Blackrock’s IBIT was the only exception, recording an inflow of $45.7 million.
Despite the negative outlook for Bitcoin ETFs today, it is essential to acknowledge that these products have seen significant cumulative net inflows since their debut in January 2024, totaling a substantial $15.6 billion. These ETFs serve as a gateway for institutional and retail investors seeking exposure to cryptocurrency markets, providing an alternative investment option.
The market’s sentiment remains mixed amid the recovery from a severe downturn. Bitcoin’s price currently sits at $83,000, having recovered from its recent dip to $70,000 last week. The Fear & Greed Index is hovering around 27 (Fear) per CoinCodex, indicating a bearish undercurrent among traders. Furthermore, technical indicators such as a falling 50-day moving average and an RSI of 38.36 reinforce this sentiment, signaling neutral-to-oversold conditions.
Coinpedia analysts have cautioned that the correction will persist into April, although Trump’s pro-crypto stance and the incoming SEC Chair, Paul Atkins, fuel long-term hope. Changelly predicts a possible dip to $82,149.79 this month, with a ceiling at $109,200.97. This development underscores the ongoing struggle between bearish pressures and bullish fundamentals in the cryptocurrency market.
In related news, Bybit has introduced zero fees for MT5 users on indices trading.
Source: https://www.crypto-news.net/bitcoin-etfs-end-the-day-on-a-net-negative/
