The Bitcoin ETF market is experiencing a decline in buying interest

Traders discussion corner
,
1

Notably, US-based Bitcoin ETFs are currently not seeing inflows of capital, indicating waning investor attraction.

US-Btc-ETFs
US-Btc-ETFs814Ă—475 79.3 KB

Since their launch on January 11th, Bitcoin ETFs (exchange-traded funds primarily investing in Bitcoin on the stock market) have garnered attention, consistently recording net capital inflows, with some days attracting up to $1 billion USD.

However, according to analysts at CoinDesk, the initial enthusiasm for Bitcoin ETFs seems to be diminishing. This has affected recent capital flows into these funds, with instances of net buying not keeping pace with selling, as seen with Grayscale’s Bitcoin Trust (GBTC).

Last week, all Bitcoin ETFs witnessed a net outflow of 1,766 Bitcoins (approximately $118.3 million USD). Most funds like Fidelity’s Bitcoin Wise Origin (FBTC) and Invesco’s Galaxy Bitcoin ETF (BTCO) recorded zero inflows. Net selling has become a noticeable trend.

As a result, BlackRock’s iShares Bitcoin Trust (IBIT) remains the only fund consistently recording inflows of capital.

https://bitforum.net – Crypto forum discussions about all aspects of cryptocurrency bitforum socialfi #InnovationSocialNetwork

2 Likes
2

The halving could trigger Bitcoin prices again.

1 Like
3

Post BTC halving is always an uptrend for crypto. btc 2024

4

Big investors in the cryptocurrency market make moves to create boredom and then sell off to set up for another cycle. In the long run, Bitcoin’s value will likely go up, but it’s normal for Bitcoin to hit high points and then drop significantly.

When these big investors want the price to go up, they start buying a lot. This gets smaller investors interested, causing the price to keep going up. Experts then jump in to analyze the market, and any news can seem positive for Bitcoin.

On the flip side, when the big investors are satisfied, they start selling off. They do this gradually to scare smaller investors, and they won’t stop until they can’t push the price down anymore. At this point, any news can seem negative for Bitcoin. So, don’t waste time trying to predict Bitcoin’s price based on analysis. This market is unpredictable, and it’s like big fish eating smaller fish.