Bitcoin Spot ETFs don post $643M outflow, seven-week inflows don end
Bitcoin spot ETFs don record one week net outflow of $643 million from July 28 to August 1, dem end seven weeks wey money dey enter finish. BlackRock’s IBIT get the biggest one for week - $355 million, make their total net inflow reach $57.6 billion. VanEck’s HODL add $9.13 million. But ARK Invest and 21Shares’ ARKB lead for outflows with $444 million withdrawal, while Fidelity’s FBTC get $354 million net outflow. Total asset under management for Bitcoin spot ETFs be $146.48 billion, dem represent 6.46% of Bitcoin market capitalization, with cumulative net inflows of $54.18 billion. Traders suppose dey monitor if these outflows signal change in market feeling inside bigger bros market dynamics.
Bearish
One sudden net outflow of $643 million after seven weeks wey dey get inflow one after di oda mean say demand dey reduce and people fit dey press to sell for Bitcoin spot ETFs. If we check history, when outflow reverse like dis e dey usually come with short-term price drop as traders dey adjust dia position dem. Even though total assets wey dem manage still dey high, the steady outflows fit mean say investor mind dey change, wey fit make Bitcoin market unstable for near time. Long term, e go depend on bigger market actions and macroeconomic factors.