Bitcoin Price At Risk As Fed Risk Converge With ETF Outflows And Weak Technicals - iShares Bitcoin Trust
Investors withdrew $1.26 billion from U.S. spot Bitcoin ETFs this week as rising bond yields and bearish chart signals added pressure.
- Bitcoin fell to $74,305 early Saturday, its lowest level since April 20, as investors withdrew more than $2.26 billion from Spot Bitcoin ETFs over the past two weeks.
- Rising Treasury yields and inflation concerns drive the sell-off, with analysts predicting CPI will increase from 3.8% in April to 4.2% in May, while commodities attract capital amid Strait of Hormuz tensions involving Iran.
- Bitcoin has crossed the 50-day Exponential Moving Average and is attempting to move below the 23.6% Fibonacci Retracement level, following a rising wedge pattern breakdown.
- Investors pulled $1.26 billion from ETFs this week, the largest single-week outflow since January, erasing the $1.6 billion in gains from the first six trading days of this month.
- Some analysts point to capital redirection toward a potential SpaceX IPO, with pre-market derivatives seeing significant trading volume as investors shift away from zero-yielding assets like Bitcoin.
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Bitcoin Spot ETFs Bleed $1.26 Billion In Largest Net Outflows In 3 Months - Details – #CryptoUpdatesGNIT
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The 13 US Bitcoin Spot ETFs closed out last week with $1.26 billion in net withdrawals, amid significant price losses in the broader crypto market. Notably, data from SoSoValue shows this is the heaviest outflow from the Bitcoin ETF market since the last week in January, when investors’ activity resulted in a net loss of $1.49 billion. Bitcoin Spo…
BTC Slips Below $76K as Investors Eye the Next Major Move
Bitcoin fell below $76,000 as inflation fears and liquidations pressured crypto markets. Rising oil prices and Fed rate hike expectations weakened overall investor sentiment. Analysts remain optimistic despite $1.26 billion in Bitcoin ETF outflows this week. Bitcoin — BTC, slipped below the $76,000 level on Friday, adding fresh pressure to an already nervous crypto market. The decline extended Bitcoin’s losing streak into a second straight week …
In the last two weeks, Bitcoin's ETFs have experienced a capital flight that has not been seen since its launch. $2.26 billion has come out of these funds quoted in the US market, dragging the price of Bitcoin to $74,300, a level that has not been seen for months. The figure, advanced this morning by CoinDesk, confirms a sudden change of sentiment among institutional investors, who for months had been the main bulldozer of the cryptocurrency. Th…
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