Bitcoin's Downturn Intensifies as ARKB Outflows Surpass GBTC
Wednesday, 3 April 2024, 05:01
Spot Bitcoin ETFs Outflows Stir Market Concerns
Analysts are linking the recent Bitcoin price decline to outflows from US-traded spot Bitcoin ETFs. ARK 21Shares Bitcoin ETF (ARKB) has emerged as the largest contributor to this trend.
- Spot Bitcoin ETFs experienced a cumulative outflow of $110.2 million in the early Asia market.
- Grayscale Bitcoin Trust (GBTC) faced continuous outflows since March 15, 2024.
- Reflecting the most recent updates, Bitcoin ETF flows have turned positive, with $40.3 million in inflows.
Market Analysts' Concerns
Market analysts are monitoring the impacts of Federal Reserve decisions on Bitcoin price, especially amidst the rise in Treasury bond yields and upcoming halving events.
- Key Insight: Speculation on interest-rate cuts and market sentiment from ETF outflows are affecting Bitcoin's current price trends.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.