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Key Takeaways
US Bitcoin (
$78,808.00 ) ETFs saw massive outflows of $435 million as Bitcoin ( $78,808.00 ) ’s price fell below $93,000.
MicroStrategy made its largest Bitcoin ( $78,808.00 ) purchase ever, acquiring 55,500 BTC worth $5.4 billion.
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US Bitcoin ( $78,808.00 ) ETFs faced massive outflows on Monday amid Bitcoin ( $78,808.00 ) ’s retreat below $93,000.
The eleven spot Bitcoin ( $78,808.00 ) ETFs collectively saw net outflows totaling $435 million, with only BlackRock’s iShares Bitcoin ( $78,808.00 ) Trust (IBIT) and Grayscale’s Bitcoin ( $78,808.00 ) Mini Trust (BTC) attracting inflows.
According to data from Farside Investors, IBIT captured approximately $268 million in net inflows, while BTC took in $400,000.
Bitwise’s Bitcoin ( $78,808.00 ) ETF (BITB) and Grayscale’s Bitcoin ( $78,808.00 ) Trust (GBTC) faced substantial investor withdrawals. BITB recorded its largest-ever outflow of $280 million, while GBTC saw its most significant daily redemption in three months, amounting to $158 million.
Fidelity’s Wise Origin Bitcoin ( $78,808.00 ) Fund (FBTC) and ARK Invest’s Bitcoin ( $78,808.00 ) ETF (ARKB) saw outflows of $135 million and $111 million, respectively. Invesco and Valkyrie’s funds collectively lost $19 million.
The intense outflows marked a sharp reversal from last week’s performance when US Bitcoin ( $78,808.00 ) ETFs attracted $3.3 billion, with BlackRock’s iShares Bitcoin ( $78,808.00 ) Trust (IBIT) securing over 60% of total inflows.
The setback came as the broader crypto market turned bearish.
Bitcoin ( $78,808.00 ) ’s recent push for $100,000 was thwarted as it fell under $93,000, according to data from CoinGecko. The flagship crypto is now trading at around $94,300, down 3.5% in the last 24 hours.
The decline came amid increased selling pressure from long-term holders, who have sold over 461,000 BTC since the asset’s recent peak above $99,000, Crypto Briefing reported.
Despite the bearish trend, there’s speculation about a potential rebound if the price stabilizes and reaccelerating investor demand. On Monday, MicroStrategy announced it had acquired another 55,500 BTC worth $5.4 billion. It’s the company’s largest Bitcoin ( $78,808.00 ) acquisition to date.
Market participants are monitoring macroeconomic factors, including inflation data and Federal Reserve statements, which could influence near-term price action.
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