Bitcoin ETFs Continue Strong Inflows While Ether and Zcash Funds See Outflows
- US spot Bitcoin ETFs recorded $66.2 million in net inflows on Tuesday, extending their streak to nine trading days.
- Total net inflows for Bitcoin ETFs during this period have reached approximately $3.1 billion, with year-to-date inflows at around $1 billion.
- In contrast, spot Ether ETFs experienced about $3 million in net outflows after a seven-day inflow period totaling over $851 million.
- Zcash ETFs also saw a reversal, recording $8 million in outflows after six consecutive days of inflows.
- As of the latest data, Bitcoin is trading at approximately $83,567, down by 0.4% in the last day.
- The Crypto Fear & Greed Index has decreased slightly from a score of 73 to 71, indicating a shift in market sentiment.
The recent performance highlights the contrasting trends between Bitcoin and altcoin funds, with Bitcoin maintaining strong investor interest while Ether and Zcash face challenges with outflows amid shifting market dynamics.
With Bitcoin ETFs attracting a total of about $3.1 billion during their current streak, the ongoing demand for these funds remains robust despite fluctuations in other cryptocurrencies.(Source)
