Recent analysis has shown that Bitcoin ETFs in the U.S. faced outflows after a record influx. However, the cryptocurrency market remains optimistic due to improvements in economic conditions.
Outflows from Bitcoin ETFs
Last week, U.S. Bitcoin ETFs reported **$96.14 million** in net outflows, marking the first significant decline after several weeks of record inflows. The main outflows were concentrated in Fidelity and Hashdex funds; however, the stability of other funds indicates that this does not reflect a broader market shift.
Optimism Amid Economic Indicators
Despite the outflows, the cryptocurrency market maintains a positive trend. **Bitcoin** rose by **1.4%**, while **Ethereum** surged by **8.9%**. This is linked to the recent U.S. Consumer Price Index data, which increased by **0.2%**, bringing the annual inflation rate down to **2.3%**, its lowest level in two years.
Long-term Prospects for Bitcoin
According to Ruslan Lienkha, head of markets at 'YouHodler', the fundamental drivers for Bitcoin's positive outlook lie in growing institutional interest. Additionally, following Bitcoin's halving event, reduced supply pressure may positively impact prices in the future.
Despite temporary fluctuations in outflows from Bitcoin ETFs, the overall situation in the cryptocurrency market appears optimistic due to favorable economic conditions and increasing interest from institutional investors.
