 ▲ Bitcoin (BTC) |
The price of cryptocurrency leader Bitcoin (BTC) is trading in the $65,000 range on the 18th (Korean time).
According to CoinMarketCap, a global cryptocurrency price relay site, as of 4:33 p.m. on this day, the BTC price was recording $65,784, down 1.01% from 24 hours ago.
Bitcoin fell to $64,597.25 at one point on this day.
The decline in Bitcoin prices is interpreted to be due to fund outflow from the BTC spot ETF.
According to data from financial information platform Farside Investors, a total of $145 million was net outflow into the U.S. BTC spot ETF on the 17th (local time). This is a net outflow for 3 consecutive trading days.
Net outflows occurred from Fidelity FBTC (-$92 million), Ark21 Shares ARKB (-$50 million), Van Eck HODL (-$3.8 million), and Grayscale GBTC (-$3 million), while net inflows The only ETF that appeared was Bitwise BITB (+2.9 million dollars). There were no net inflows or outflows from the remaining ETFs.
In relation to this, James Butterfill, head of research at CoinShares, said, "Investors' investments in Bitcoin spot ETFs have decreased due to the more hawkish than expected (favoring monetary tightening) U.S. Federal Open Market Committee (FOMC) meeting." “It appears to be,” he explained.
Meanwhile, cryptocurrency exchange Bitfinex said through Official “The Hodler Net Position Change metric has consistently shown negative values over the past nine days.”
Accordingly, CoinDesk, citing multiple traders, predicted that “Bitcoin could be adjusted up to $60,000 due to miners’ selling activities.”
