In March, most US Bitcoin ETFs showed negative performance, reflecting bearish sentiment in the cryptocurrency market.
US Spot Bitcoin ETFs Had Outflows Over $1.6 Billion in March
Overall, US Bitcoin ETFs had outflows of over $1.6 billion in the first 17 days of March, with inflows only at $351 million. Funds like BlackRock's iShares Bitcoin Trust ETF and Fidelity's Wise Origin Bitcoin Fund saw the largest losses.
Ether ETFs Also Show Negative Results
Ether-based investment products also didn't perform well in March. BlackRock's iShares Ethereum Trust ETF and Fidelity's Ethereum Fund saw significant outflows.
CryptoQuant CEO Predicts End of BTC Bull Cycle
CryptoQuant founder and CEO Ki Young Ju said the 'Bitcoin bull cycle is over.' He expects bearish or sideways trends to dominate for up to a year based on on-chain metrics.
March was a challenging month for Bitcoin and Ether ETFs, highlighting a shift in positions on crypto markets and a possible end to the bullish trend amid fading liquidity.
