Spot bitcoin exchange-traded funds in the US saw a sharp increase in outflow on 12 February. Between the expectations of a more Hawkish Federal Reserve Tare on the interest rate cut.
According to Sosovalu data12 spot bitcoin ETFS recorded $ 251.03 million in the outflow – a jump of $ 56.76 million to 342% seen the previous day.
Fedibility’s FBTC led the outflow to get out of the fund with $ 101.97 million for the third consecutive day, followed by Arkb of the arch and 21Shares with $ 97.03 million. Additional outflows include:
- Bitwaiz Bitab: $ 25.94 million
- Blackrock’s ibit: $ 22.11 million
- Invesco Galaxy’s Btco: $ 9.69 million
- Grassscale’s GBTC: $ 6.92 million
- Valkyrie BRR: $ 3.71 million
Grassscale’s Mini Bitcoin Trust was an exception, recording in an inflow of $ 16.34 million. The remaining three BTC ETFs did not see any pure movement.
The total trading volume for bitcoin ETFs reached $ 2.53 billion on February 12, with cumulative net flow $ 40.21 billion.
Ether ETFs also switch to pure outflow
Bitcoin was not alone to experience ETF outflow – Nine Ether ETF also became negative.
Ath ETF recorded $ 40.95 million In redemption, the previous day’s $ 12.58 million reversed. The disadvantage came entirely from the fidelity’s fidelity’s fidelity’s fidelity, with $ 30.23 million and $ 10.72 million in the outflow. The daily trading volume was $ 349.41 million, with the total net flow since the launch of $ 3.13 billion.
Market response to inflation data
Bitcoin and Atherium ETF outflows are expected to be higher than an expectation of American inflation figures with a fall in the prices of bitcoins (BTCs) and (ETH). The inflation of January came at 3.3% year-by-year, which was more than 3.1% forecast.
With more hot than expected, traders now estimate only one rate cut in 2025, the fed is likely to remain stable by 2026 with probability. As a result, the crypto market faced, as digital assets generally perform better in low interest-by-environment.
Commenting on the impact of the latest inflation figures, David Hernandez, Crypto Investment Specialist of 21 Sheras told Crypto.NUS that it was weight on both BTC prices and S&P 500 fuches. However, he said that this response may determine the platform for a large rally if Fed cuts rates later this year.
He said, “Any rate cut in any rate can overcome the flood of liquidity, high to equities and Crypto,” he explained.
Hernandez stated that bitcoin, in particular, can greatly benefit, potentially new may increase to a higher level of all time. “BTC can break through $ 110,000 and strengthen its place in the field of six digits,” he said.
