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Bitcoin Price Plunge Sparks $601M ETF Exodus: Profit-Taking or De-Risking?


by CoinEdition
Bitcoin Price Plunge Sparks $601M ETF Exodus Profit-Taking or De-Risking
  • Bitcoin spot ETFs saw a significant net outflow of $601 million over the past week.
  • Major funds like BlackRock and Fidelity led with notable withdrawals, totaling 10,428 BTC.
  • The decline is partly attributed to Bitcoin’s recent price drop from $61,200 to around $55K and strategic profit-taking.

Bitcoin spot exchange-traded funds (ETFs) recorded a net outflow of $601 million over the past week, which could hint at a shift in investor sentiment. The reduction in holdings suggests increased caution among investors, likely driven by profit-taking and the ongoing bearish market.

Ten major Bitcoin ETFs saw a substantial outflow of 10,428 BTC, worth approximately $601 million, over the past seven days according to data from Lookonchain

The reduction in holdings was led by prominent funds such as the iShares (BlackRock) Bitcoin Trust (IBTC) and Fidelity Wise Origin Bitcoin Fund (FBTC), which experienced notable withdrawals of 228 BTC and 3,753 BTC, respectively. 

Funds like the ARK 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF (BITB) also reported substantial net outflows. In the last day alone, 5,514 BTC, worth $317.82 million, left the U.S. Bitcoin ET…

The post Bitcoin Price Plunge Sparks $601M ETF Exodus: Profit-Taking or De-Risking? appeared first on Coin Edition.

Read the article at CoinEdition

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Bitcoin Price Plunge Sparks $601M ETF Exodus: Profit-Taking or De-Risking?


by CoinEdition
Bitcoin Price Plunge Sparks $601M ETF Exodus Profit-Taking or De-Risking
  • Bitcoin spot ETFs saw a significant net outflow of $601 million over the past week.
  • Major funds like BlackRock and Fidelity led with notable withdrawals, totaling 10,428 BTC.
  • The decline is partly attributed to Bitcoin’s recent price drop from $61,200 to around $55K and strategic profit-taking.

Bitcoin spot exchange-traded funds (ETFs) recorded a net outflow of $601 million over the past week, which could hint at a shift in investor sentiment. The reduction in holdings suggests increased caution among investors, likely driven by profit-taking and the ongoing bearish market.

Ten major Bitcoin ETFs saw a substantial outflow of 10,428 BTC, worth approximately $601 million, over the past seven days according to data from Lookonchain

The reduction in holdings was led by prominent funds such as the iShares (BlackRock) Bitcoin Trust (IBTC) and Fidelity Wise Origin Bitcoin Fund (FBTC), which experienced notable withdrawals of 228 BTC and 3,753 BTC, respectively. 

Funds like the ARK 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF (BITB) also reported substantial net outflows. In the last day alone, 5,514 BTC, worth $317.82 million, left the U.S. Bitcoin ET…

The post Bitcoin Price Plunge Sparks $601M ETF Exodus: Profit-Taking or De-Risking? appeared first on Coin Edition.

Read the article at CoinEdition

Read More

Bitcoin’s April Rally Driven By Institutions, While Retail Flees ETFs: Coinbase Exec

Bitcoin’s April Rally Driven By Institutions, While Retail Flees ETFs: Coinbase Exec

Patient pools of capital are behind BTC's recent rally.
Bitcoin ‘Apparent Demand’ Makes Sharp Rebound – Will BTC Breakout Soon?

Bitcoin ‘Apparent Demand’ Makes Sharp Rebound – Will BTC Breakout Soon?

As Bitcoin (BTC) edges closer to the psychologically significant $100,000 milestone, ...