Bitcoin ETFs Experience $119M Inflows as Ether ETFs See Continued Losses
- Bitcoin ETFs recorded net inflows of $119 million on Tuesday, reversing a loss of $90 million from the previous day.
- The price of Bitcoin fell from over $86,600 to below $84,000, trading at $83,971 at the time of reporting.
- Profit-taking was noted as Bitcoin’s price traded significantly above active traders’ estimated cost basis of $68,900.
- Ether ETFs faced outflows totaling $202 million on Tuesday, increasing from around $51 million the day before.
- Total outflows for Ether ETFs have now reached approximately $408 million over recent sessions.
- Other crypto ETFs showed mixed results with XRP attracting $3.1 million and Solana experiencing outflows of $3.7 million.
The contrasting trends in ETF flows highlight market volatility and investor sentiment towards Ethereum compared to Bitcoin. The significant inflow into Bitcoin ETFs suggests renewed interest amidst fluctuating prices.
On Tuesday, Bitcoin ETFs saw a notable rebound with inflows of $119 million while Ether ETFs continued their streak of losses with outflows totaling $202 million.(Source)
