Spot bitcoin exchange-traded funds in the United States returned to outflow on 6 February as Bitcoin continued trading below the significant $ 100K level, required for its next leg.
As data From Sosowale, 12 spots bitcoin ETFS on Thursday recorded $ 140.3 million in outflow, which broke the two-day ridges, which was a total of $ 407 million.
Fedibility’s FBTC led the outflow with $ 103.25 million in redemption, followed by GBTC of Grassscale to withdraw $ 42.21 million. Meanwhile, Bitwiz’s bitb inflow was the only ETF to recording the inflow, attracting $ 5.15 million from investors.
Other spot bitcoin funds including Blackrock’s ibit did not see any pure flow for the day.
The total trading volume of 12 bitcoin ETFs rose to $ 2.45 billion on 6 February, which increased from $ 2.04 billion recorded the previous day.
Macroeconomic pressure drive eTF outflow
Bitcoin ETFS saw under pressure on 5 February after bitcoin and ultcoin, remained under pressure on February 5, after a strong-to-the private payroll report from ADP, the largest payroll processor in the US
The report came just before the official nonform parole report, where economists expect 154,000 jobs to increase jobs in January, below 256,000 last month.
Crypto and stock investors closely monitor American employment data, as it plays an important role in the decisions of the Federal Reserve interest rate. A strong labor market may motivate the fed to keep the rates longer because inflation remains above 2% target, potentially delayed the delay in the expected two rate cuts this year.
At the press time, Bitcoin (BTC) was trading at $ 97,341, which was 0.5% a day.
Ether ETF expands the flow streak for seven days
While Bitcoin ETF faced the latest outflow, Ether ETFS recorded a consecutive flood on its seventh day, which entered the market $ 10.65 million – which all went to ETF of Blackrock, while other funds Did not see pure flow.
Spot Ether ETF has seen an increase in demand in the last one week, which attracts more than $ 500 million from January 30 to February 5, represents 16% of the total flow since the launch.
At time, the press was trading at Etreum (Eth) at $ 2,711, posting a stator loss of 4.1% compared to the previous day as compared to bitcoin.
