Investors Withdraw $1.82 Billion from Bitcoin and Ether ETFs
- US-based spot Bitcoin ETFs experienced net outflows of $1.49 billion over five trading days.
- Spot Ether ETFs saw $327.10 million in withdrawals during the same period.
- Over the past week, Bitcoin and Ether prices fell by 6.55% and 8.99%, respectively, trading at $83,400 and $2,685.
- On January 14, Bitcoin ETFs recorded their highest inflow day for the year with $840.6 million.
- Gold reached an all-time high of $5,608 before falling to $4,887 on Friday.
The significant outflows from Bitcoin and Ether ETFs reflect a weakening market sentiment amid a rally in precious metals like gold and silver. Analysts suggest that this negativity towards Bitcoin may be short-sighted given its strong performance in previous years.
With a total of $1.82 billion withdrawn from these ETFs recently, the current market dynamics indicate cautious investor behavior as both cryptocurrencies struggle to maintain upward momentum.(Source)
