$BTC BTC ETFs Face Red Week With 1.3 Billion Dollars Evaporated And Zero Days Of Inflows
The cryptocurrency market has just endured a gloomy trading week as US institutional capital simultaneously retreated, creating strong selling pressure on Bitcoin prices.
🔸 US spot Bitcoin ETFs witnessed an unprecedentedly negative trading week with a total net outflow of $1.3241 billion. Notably, no trading day in the week recorded positive inflows, reflecting a cautious sentiment covering the entire institutional investor landscape.
🔸 Selling pressure spread across top funds. Specifically, BlackRock IBIT led the sell off with a net withdrawal of $537.5 million, followed by Fidelity FBTC with $451.5 million. Even Grayscale GBTC, which frequently sees outflows, recorded another $172.1 million leaving the fund.
🔸 The negative trend also appeared in smaller funds such as ARKB losing $76.2 million, BITB losing $66.3 million, along with minor withdrawals from EZBC, BRRR, and HODL.
When both BlackRock and Fidelity aggressively dump over half a billion dollars each, is this a short term profit taking move or a warning signal for a deeper Bitcoin correction next week?
News is for reference, not investment advice. Please read carefully before making a decision.