Bitcoin ETFs experienced a net outflow of $1.0271 million on April 11, marking the seventh consecutive day of negative inflows. This information comes from data provided by SoSovalue. While ARKB saw a positive inflow of $11.28 million, BITB saw a net outflow of $12.31 million. The other ETFs, including IBIT, FBTC, BTCO, BTCW, BRRR, EZBC, HODL, GBTC, DEFI, and BTC, did not see any change in net inflows or outflows.
Ether spot ETFs also saw a significant net outflow of over $29 million, continuing a four-day streak of losses. This trend reflects the sentiment of investors amid fluctuating markets and regulatory uncertainty.
In just under two weeks of April, Bitcoin fund outflows have already surpassed the total outflows of March, indicating that more outflows could be on the way. Since the beginning of April, a total of $813.89 million has been withdrawn from Bitcoin ETFs.
Bitcoin has shown strength this week with higher highs and lows, but analyst Atlantis7 is skeptical of this trend. They believe that the 4.80% price increase is due to passive bids on platforms like Coinbase and Binance, as well as active buyers on OKX. This could suggest that institutions are using Bitcoin as a short-term safe-haven asset amid US-China tariff tensions, similar to the recent rise in gold prices. Atlantis7 warns that this rally may just be an “exit pump.”
Bitcoin surged 5% today, trading below $84,000, after a Federal Reserve official hinted at possible intervention to stabilize the markets. Arthur Hayes, a prominent figure in the crypto industry, also believes that rising bond yields could push the government to take action, potentially leading to more money being pumped into the system and boosting crypto assets.
Analyst Ali Martinez noted that Bitcoin is currently breaking past a key resistance level at $82,360. If Bitcoin can stay above this level, it could build momentum and potentially rise towards the next target of $91,500.
The Federal Reserve’s actions and bond yield concerns could have an impact on Bitcoin prices. Hints of Fed support and concerns about bond yields could make Bitcoin an attractive hedge against market instability.
However, analysts warn that the recent surge in Bitcoin prices may not be sustainable. They suggest that it could be an “exit pump” driven by passive and institutional bids rather than organic long-term demand.
Some frequently asked questions include how the Fed’s actions could affect Bitcoin prices. Hints at Fed support and bond yield concerns could boost Bitcoin, making it a hedge against market instability. Another common question is whether the recent surge in Bitcoin prices is sustainable. Analysts warn that it may be an “exit pump” fueled by passive and institutional bids, rather than organic long-term demand.
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