Bitcoin ETFs Record $292M Outflows Amid Price Dip, Volatility Drop and Ongoing Institutional Interest
Spot Bitcoin ETFs don dey experience three straight days of net outflows as price dem dey fall from di July peaks. BlackRock’s IBIT na di lead di sell-off with $292.5M withdrawal, di biggest since May. Fidelity’s FBTC and Grayscale’s GBTC lose $40M and $10M respectively, while Bitwise ETF come attract $18.7M.
Weekend sell-off make Bitcoin drop 8.5% from July 14 peak, fall reach $112,300 before e recover to about $115,000. Spot Ethereum ETFs also get record outflows, with $465.1M withdrawal in one session, BlackRock’s ETHA dey lead.
Even with recent pullback, July inflows still strong. IBIT collect $5.2B for di month, digital assets don draw $60B for di year till now, Bloomberg and JPMorgan talk. Spot Bitcoin ETFs compress 90-day volatility from over 60 to below 40, making market more stable.
Traders suppose watch Bitcoin ETF flows well well. If outflows dey continue, e fit reduce short-term sentiment, but low volatility and ongoing institutional interest dey support long-term accumulation.
Neutral
Di wave wey dey comot money for spot Bitcoin ETF and di price drop for weekend mean say traders dey sell for short time, e fit make trading mind and price movement slow down. But, di big $5.2B that dem put enter July, plus how di market calm from more than 60 to less than 40, and di steady interest from big players still dey stabilize di matter. Dis katakara factors – short-term selling against long-term saving plus lower market shakings – show say di market balance, no strong market up or down trend dey rule.