The US-based Bitcoin-Traded Funds (ETF) has been negative for capital leaks over the past few weeks, reflecting emotions that reduce appetite and deteriorate emotions among investors. However, the latest daily performance of this encryption -based financial instrument suggests that new demand can increase among investors.
Bitcoin ETF is close to a positive state with a net inflow of $ 88 million.
According to the latest market data, Bitcoin ETF in the US recorded a daily inflow of $ 83.9 million on Friday, March 21.
On Friday, only two of Bitcoin ETFs witnessed an investor activity. Blackrock has added the largest amount of value ($ 199.9 million) to the Exchange Trade Fund Ishares Bitcoin Trust (with Ticker IBIT). The GrayScale Bitcoin Trust (GBTC) has raised a daily leak for $ 21.9 million to close a week.
Nevertheless, this $ 83.9 million performance reached $ 773.35 million in Bitcoin ETFS’s weekly record per share. Interestingly, this week’s record ended a total of five consecutive weeks in the exchange trading fund.
Source: SoSoValue
According to SOSOVALUE’s data, the US Bitcoin ETF market has been withdrawn of $ 53.9 billion compared to five weeks of negative leaks. In particular, cryptocurrency -based financial instruments witnessed a daily leak on February 25.
Bitcoin ETF’s leakage is associated with uncertain climate in the US financial market. After US President Donald Trump resumed the office, the market was implemented with fear of global trade wars and interest rates.
Bitcoin prices do not respond to ETF inflow.
Since launch, there was a discussion on the effect of the performance of the US Bitcoin ETFS on the price of flagship cryptocurrency. As can be seen from the recent net leaks of continuous net leaks, Bitcoin prices tend to have difficulty every time ETF investors leave the market.
But the best cryptocurrency seems to be trapped in an integrated range despite the new demand for Bitcoin ETF. However, continuous demand for exchange transaction funds can be a positive catalyst for Bitcoin prices resuming the rise.
At the time of this article, the price of BTC does not reflect big changes in the last 24 hours and reminds me of $ 84,000 mark. According to Coingecko’s data, market leaders rarely recorded notable movements last week.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Chart of TradingView, the main image of ShutterStock
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