News

Bitcoin Spot ETF Outflows Hit $54.9M, First Decline in 7 Days

Key Points:

  • Bitcoin Spot ETF Outflows reached $54.9M on November 1, marking the first decrease after a week of inflows.
  • Both Bitcoin Spot ETF and Ethereum Spot ETF experienced notable outflows, indicating a shift in investor sentiment.
Bitcoin Spot ETF Outflows Hit $54.9M on Nov 1, marking the first decline in a week. Ethereum Spot ETF also saw outflows, totaling $10.92M.
Bitcoin Spot ETF Outflows Hit $54.9M, First Decline in 7 Days 2

Bitcoin Spot ETF Outflows: First Decline After 7-Day Inflow

The Bitcoin Spot ETF saw net outflows of $54.9 million on Nov. 1, the first outflow in the last week after its steady inflows. The price drop has sparked debate among investors, with the record date showing outflows that could indicate a shift in sentiment or market conditions. In general, an inflow indicates increased interest; however, this reversal might imply profit-taking in the short term or that the market is cautious, according to Sosovalue.

The Bitcoin Spot ETF outflow comes amidst a turbulent period in which digital assets have remained under pressure, with investors yet to shake off the macroeconomic factors and regulatory uncertainties that continue to impact their decisions. Curiously, it rhymes with Ethereum Spot ETF’s trend, which also recorded a negative outflow of $10.92 million on the same day. These changes in fund flows could suggest a potential retreat in interest from crypto ETFs, at least for the short term.

Read more: Bitcoin Spot ETF Inflows Drop to Weekly Low of $32 Million

William

In the fast-paced world of day trading, I've honed my skills for over six years using technical analysis tools and crafting short-term strategies. My expertise isn't from textbooks but from the trenches of online trading communities. I excel at reading chart patterns, applying technical analysis, and mastering risk management. "The market is about probabilities," I declare. As Editor at Coincu, I empower readers with the insights and strategies to conquer the dynamic world of day trading.

Recent Posts

Thai Police Corruption Case Involving Officers and Extortion

Thai police corruption exposed as officers extort millions in USDT from a Chinese man under…

12 mins ago

SafePal Telegram Wallet Launches with Swiss Bank Accounts and CeDeFi

SafePal Telegram Wallet allows 950 million users to create compliant crypto-friendly Swiss bank accounts, integrating…

58 mins ago

Sheetz Crypto Payments Now Accepted at Over 750 US Locations

Sheetz crypto payments: 750+ US stores now accept Bitcoin, Ethereum, and more, rewarding customers through…

1 hour ago

Zhu Su Wife Sells Singapore Mansion for $38 Million

Zhu Su’s wife sells Singapore mansion for $38.5 million amid heightened financial scrutiny on Three…

2 hours ago

Ripple (XRP) And Cardano (ADA) Flash Bearish Indicators, WallitIQ (WLTQ) Flashes 6,000% Bullish Indicator

Analysts report that the XRP price and the Cardano price are displaying bearish indicators, while…

11 hours ago

BlockDAG’s $1M Giveaway Is Live Now – Grab Your Chance Before It’s Gone, While ChainLink Holders Shift Focus as XRP Eyes Price Rally

Explore the potential of XRP’s price surge and evolving ChainLink strategies while BDAG’s giveaway expands…

13 hours ago

This website uses cookies.