Bitcoin spot ETF has seen three consecutive days of net outflows, but the outflows have slightly decreased compared to the 19th of March.
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Bitcoin ETF saw two consecutive days of outflows, with BTC falling below 61K, marking the largest single-day drop since the FTX incident.
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Bitcoin spot ETF sees three consecutive days of outflows
Mainstream coins rebound, meme coins bounce back
Bitcoin spot ETF sees three consecutive days of outflows
Farside Investors
Data shows that the net outflows of Bitcoin spot ETF on March 20th amounted to -261 million US dollars, with GBTC contributing -386 million US dollars.
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The total net outflows in the previous two days were 154 million US dollars and 326 million US dollars respectively.
The net inflows of ETFs from various issuers have not reached the billion-dollar level, with the following data:
Grayscale GBTC: -386 million US dollars
Invesco BTCO: -10.2 million US dollars
BlackRock IBIT: 49.3 million US dollars
ARK Invest ARKB: 23.3 million US dollars
Franklin Templeton EZBC: 19 million US dollars
Bitwise BITB: 18.6 million US dollars
Fidelity FBTC: 12.9 million US dollars
VanEck HODL: 9.3 million US dollars
Valkyrie BRRR: 2.9 million US dollars
Bitcoin spot ETF flows
Mainstream coins rebound, meme coins bounce back
Despite the net outflows of Bitcoin ETF, the market rallied on the 21st due to the Federal Reserve’s announcement of maintaining interest rates, which increased confidence in a rate cut in June. Both the US stock market and cryptocurrencies rose.
Bitcoin returned to the 66,000 level, and Ethereum regained the $3,400 mark.
Meme coins that experienced significant declines in recent days also saw notable rebounds:
Dogecoin (DOGE): 17.85%
Shiba Inu (SHIB): 9.51%
Pepe (PEPE): 21.27%
dogwifhat (WIF): 16.57%
FLOKI: 41.5%
Bonk (BONK): 11.13%
Emerging meme coins BOME (-1.79%) and SLERF (2.3%) have not shown signs of recovery.
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Federal Reserve maintains interest rates, optimistic sentiment about three-digit rate cut boosts stock and cryptocurrency prices.
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ETF
Further reading
Wall Street investment bank Bernstein: Bitcoin correction is an opportunity to enter before halving, maintains target price of $150,000
SEC delays Ark and Hashdex Ethereum spot ETFs, Bloomberg analyst no longer optimistic about May approval.