Bitcoin ETFs Suffer Significant Outflows After String of Million-Dollar Inflows

The cryptocurrency market, known for its volatility, is experiencing another chapter of upheaval. After a period of optimism with massive inflows into exchange-traded funds (ETFs) of Bitcoin , the scenario has reversed, with significant net outflows recorded in recent days. On December 24, spot Bitcoin ETFs in the United States completed the fourth consecutive day of net outflows.

The recent outflow intensified a bearish trend following a 15-day streak of positive inflows totaling more than $6,7 billion through Dec. 18. According to data On the SoSoValue platform, a total of US$338,4 million left the 12 available ETFs in just one day. Over the last four days, total net outflows from these funds reached US$1,52 billion.

Among the ETFs with the highest outflow volume, BlackRock's IBIT stands out, with approximately US$188,7 million in withdrawals. Fidelity's FBTC also saw a significant outflow, with US$83 million. 21Shares' Ark and ARKB saw net outflows of US$75 million.

In contrast to most, Bitwise’s BITB was the only one to see net inflows on the day, adding $8,5 million. Seven other funds saw zero inflows, while Franklin Templeton’s EZBC data was not reported.

Bitcoin price

O Bitcoin price today 25/12/2024 is showing a significant rise of almost 5% that made the asset return to the US$ 98 thousand zone. Yesterday, the asset showed a notable recovery, leaving US$ 93.943 to reach a peak at US$ 99.303, but it could not sustain its upward movement and retreated to its current zone, according to market data.

Analysts at Santiment noted that both Bitcoin and altcoins staged a major recovery yesterday, with traders expecting BTC to return to the $100 price level. “Bitcoin and altcoins recovered well heading into Christmas Day. BTC rallied to $99 as traders expected a $100 Christmas present.”

At the time of publication, the price of Bitcoin was quoted at US$ 98.560,43 with an increase of 4.6% in the last 24 hours, equivalent to approximately R$ 627.644,66 BRL and € 94.406,38 EUR.