Bitcoin ETFs have experienced notable turbulence amidst the broader crypto market's volatility, with outflows reaching $287 million this week, according to recent data.
The flagship cryptocurrency, Bitcoin, saw its price drop to around $94,000, fueling concerns about institutional interest and future price movement.
Key statistics show Fidelity’s FBTC leading outflows at $208.2 million, followed by Ark Invest’s ARKB at $112.6 million, and Bitwise’s BITB at $36 million. Despite these outflows, BlackRock’s IBIT bucked the trend with inflows of $79.4 million, highlighting mixed sentiment among institutional investors.
Contrasting reports suggest that BTC ETFs recently recorded $450 million in inflows, hinting at a potential recovery. Bitcoin’s recent price fluctuations align with the Federal Reserve’s cautious stance on interest rates, creating a challenging macroeconomic environment.
Meanwhile, optimism for Bitcoin’s long-term potential remains strong. Notably, Robert Kiyosaki, the author of Rich Dad Poor Dad, predicts BTC could reach $350K by 2025. Despite current volatility, whale investors are reportedly capitalizing on the dip, further signaling confidence in Bitcoin’s future growth.
Strategy, the Bitcoin-centric firm formerly known as MicroStrategy, has temporarily paused its regular Bitcoin purchases.
Spanish banking giant BBVA has expanded its digital services by introducing in-app Bitcoin and Ethereum trading and custody for retail clients.
According to a new chart analysis from Alphractal, the number of active cryptocurrencies has declined significantly even as Bitcoin’s price continues to climb.
Tech billionaire Elon Musk has unveiled a new political movement called the America Party, positioning it as a direct challenge to the United States’ long-standing two-party system.