{"id":331354,"date":"2024-06-26T10:26:49","date_gmt":"2024-06-26T04:56:49","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=331354"},"modified":"2024-06-26T10:26:49","modified_gmt":"2024-06-26T04:56:49","slug":"us-spot-bitcoin-etfs-record-net-inflows-has-bitcoin-price-really-bottomed-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/us-spot-bitcoin-etfs-record-net-inflows-has-bitcoin-price-really-bottomed-crypto-news\/","title":{"rendered":"US Spot Bitcoin ETFs Record Net Inflows, Has Bitcoin Price Really Bottomed? – Crypto News"},"content":{"rendered":"

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After seven consecutive days of strong outflows, the spot Bitcoin ETFs have finally turned the trajectory recording $31 million in net inflows on Tuesday, June 25. While the Grayscale GBTC saw net outflows, Fidelity FBTC managed to offset this with $48.8 million in inflows. Bitcoin price has reacted positively to this development shooting past $62,000.<\/p>\n

US Spot Bitcoin ETF Inflows \u2013 A Dead Cat Bounce?<\/h3>\n

Although the net inflows have turned positive, they are quite small in size in comparison to the Bitcoin ETF outflows<\/a> witnessed every over the past week.\u00a0 Also, BlackRock\u2019s IBIT registered zero inflows on Tuesday, which shows less interest from their institutional clients.<\/p>\n

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However, one positive development is that the spot Bitcoin ETFs<\/a> showed strong trading volumes yesterday, with each ETF issuer seeing a 4-5% jump. BlackRock\u2019s IBIT trading volumes surged past $1 billion while Fidelity\u2019s FBTC, Grayscale\u2019s GBTC, and Proshares BITO recorded more than $300 million in trading volumes.<\/p>\n

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JUST IN: BlackRock\u2019s spot #Bitcoin<\/a> ETF did $1.1 billion in trading volume today \ud83d\udc40 pic.twitter.com\/WRNSsIvdAY<\/a><\/p>\n

\u2014 Bitcoin Magazine (@BitcoinMagazine) June 25, 2024<\/a><\/p>\n

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After strong demand for the spot Bitcoin ETFs during Q1, inflows have slowed down as investors have been watching key macro developments in the market. The Federal Reserve<\/a> has shown its intentions to hold the interest rates higher for a longer-than-expected period amid the strong jobs market. As a result, investors have toned down their expectations to only one rate cut by the end of 2024.<\/p>\n

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Also Read: Why The Interest Rate Cuts Might Not Happen At All?<\/a><\/p>\n

BTC ETFs See Healthy Demand In Hong Kong and Australia<\/h3>\n

While all eyes have been on the US market for spot Bitcoin ETFs, the Hong Kong Bitcoin ETFs<\/a> have registered healthy inflows. The BTC ETFs in Hong Kong have adopted \u201cbuy the dip\u201d strategy. It clearly shows that institutional investors in Hong Kong are showing confidence despite the current Bitcoin price sell-off<\/a> in the market.<\/p>\n

Similarly, Australia\u2019s monochrome Bitcoin ETF has continued to accumulate Bitcoins in small quantities during every stage of the current Bitcoin price dip.<\/p>\n

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Australia\u2019s \ud83c\udde6\ud83c\uddfaMonochrome Bitcoin ETF, $IBTC<\/a> w\/ 59 $BTC<\/a> \ud83d\udc47 https:\/\/t.co\/XPrPZzKYkC<\/a><\/p>\n

\u2014 HODL15Capital \ud83c\uddfa\ud83c\uddf8 (@HODL15Capital) June 25, 2024<\/a><\/p>\n<\/blockquote>\n

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Also Read: Bloomberg Analyst Predicts $1B Influx from VanEck Spot Bitcoin ETF on ASX<\/a><\/p>\n

Has Bitcoin Price Bottomed Out?<\/h3>\n

After falling to a low of $58,000 late Monday, the Bitcoin price<\/a> has recovered since and is trading around $61,700 as of press time. As long as the Bitcoin price holds above $60,000, there\u2019s no major reason to correct going further, unless there\u2019s another panic trigger in the market.<\/p>\n

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Yesterday $BTC<\/a> dumped to 58k$ which was close to the legendary daily 200 MA break of which upside started the bull run<\/p>\n

This is most important level to watch for me. Break of it = end of bull \/ start of long accumulation<\/p>\n

But I don\u2019t expect it to breakdown as there is huge panic\u2026 pic.twitter.com\/ao84BYFsrL<\/a><\/p>\n

\u2014 Crypto Vikings (@CryptoVikings07) June 25, 2024<\/a><\/p>\n<\/blockquote>\n

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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After seven consecutive days of strong outflows, the spot Bitcoin ETFs have finally turned the trajectory recording $31 million in net inflows on Tuesday, June 25. While the Grayscale GBTC saw net outflows, Fidelity FBTC managed to offset this with $48.8 million in inflows. Bitcoin price has reacted positively to this development shooting past $62,000. […]<\/p>\n","protected":false},"author":2,"featured_media":281949,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-331354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/331354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=331354"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/331354\/revisions"}],"predecessor-version":[{"id":331359,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/331354\/revisions\/331359"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/281949"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=331354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=331354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=331354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}