Bitcoin Holds $71K as ETF Flows Reverse – Crypto News – Crypto News
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Bitcoin Holds $71K as ETF Flows Reverse Bitcoin Holds $71K as ETF Flows Reverse

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Bitcoin Holds $71K as ETF Flows Reverse – Crypto News

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Spot BTC ETFs had $74 million in outflows on Tuesday as traders await Friday’s PCE data.

Crypto markets drifted sideways on Wednesday as spot ETF flows whipsawed between inflows and outflows, and lawmakers grilled witnesses at a hearing on tokenized securities.

Bitcoin (BTC) is trading at around $71,000, up 2% over the past 24 hours. ETH and SOL gained 3% to $2,175 and $91.5, respectively. Meanwhile, Ripple (XRP) climbed 1.5%.

BTC Chart

Total crypto market capitalization incresed 2% to $2.51 trillion, according to Coingecko.

ETF Flows Flip Negative

Spot Bitcoin ETFs posted net outflows of $74.5 million on March 24, with Fidelity’s FBTC leading the selling at $45.3 million, followed by Bitwise’s BITB at $16.6 million. The reversal came just one day after the products attracted $167 million in net inflows, led by IBIT’s $160.8 million contribution, according to SoSoValue.

Ethereum ETFs continued to underperform, recording net outflows of $40.8 million on March 24, led by BlackRock’s ETHA with $25 million.

Despite the daily volatility, Bitcoin ETFs have logged roughly $2.5 billion in gross inflows in March, translating to about $1.6 billion in net flows, according to Bloomberg analyst Eric Balchunas.

House Holds Tokenization Hearing

The House Financial Services Committee convened on Wednesday to examine how tokenization is reshaping capital markets. Lawmakers broadly agreed that tokenized securities need the same regulatory guardrails as traditional instruments, though committee Democrats raised concerns about anonymous wallets masking foreign ownership and the “gamification” of trading, according to CoinDesk.

Big Movers

Nearly all of the Top 100 digital assets posted gains over the last 24 hours.

Today’s top gainers are SIREN and MemeCore (M), which surged 114% and 40%, respectively.

Monero (XMR) and Near Protocol (NEAR) are the biggest losers.

Around 81,000 leveraged traders were liquidated for $222 million in the past 24 hours, according to CoinGlass. Bitcoin accounted for $73 million, while ETH made up $63 million.

Friday’s PCE inflation reading is the next major macro catalyst — a print above 3% could pressure Bitcoin as rate-cut expectations evaporate, while a reading below 2.8% could spark a rally.

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