This week witnessed significant changes in Bitcoin ETF inflows and outflows, reaching a net inflow of $158 million, marking a recovery from the previous day's outflows.
Bitcoin ETF Inflows Situation
Bitcoin ETFs recorded a net inflow of $158.21 million on Thursday, rebounding from the $52 million outflows seen the previous day. The main drivers of the inflows were ARKB by Ark Invest with $81.07 million and FBTC by Fidelity with $49.88 million. No Bitcoin ETFs saw outflows on that day.
Bitcoin Price Trends
Bitcoin rose by 2.3% to $63,550, supported by recent macroeconomic developments, including a rate cut by the Federal Reserve. The price increase coincided with increased inflows into Bitcoin ETFs, reflecting overall market optimism.
Macroeconomic Factors
This positive move was further supported by improving risk sentiment across global markets, as seen in tandem with the S&P 500 and Nasdaq. Despite the rally, retail participation remains low, casting doubt on the long-term sustainability of the trend.
Analysis shows that recent changes in Bitcoin ETF inflows and Bitcoin price trends may be connected to macroeconomic factors and overall market optimism. Going forward, it will be important to monitor retail investor participation and other market trends.
Comments