ChainCatcher reported that according to Cointelegraph, data from Farside Investors showed that in the past two trading weeks, the total net outflow of US Bitcoin spot ETFs reached US$1.298 billion, of which Grayscale had the largest net outflow during the same period, reaching US$517.3 million. IBIT is the only ETF with a net inflow, with a net inflow of US$43.1 million in the past two weeks.
Jonathan de Wet, chief investment officer at digital asset trading firm ZeroCap, said that even though the entire cryptocurrency market continues to fall, the price of Bitcoin is expected to fall to the key support level of about $57,000 in the coming weeks.
Jonathan de Wet said that although Bitcoin and other cryptocurrencies may fall further in the coming week due to selling pressure from Mt. Gox creditors' repayments, he remains optimistic about the long-term outlook.
