{"id":32302,"date":"2024-06-12T11:35:35","date_gmt":"2024-06-12T11:35:35","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/spot-bitcoin-etfs-record-200m-in-outflows-as-btc-price-struggles\/"},"modified":"2024-06-12T11:35:35","modified_gmt":"2024-06-12T11:35:35","slug":"spot-bitcoin-etfs-record-200m-in-outflows-as-btc-price-struggles","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/spot-bitcoin-etfs-record-200m-in-outflows-as-btc-price-struggles\/","title":{"rendered":"Spot Bitcoin ETFs record $200M in outflows as BTC price struggles"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/bitcoin-btc-1-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/bitcoin-btc-1-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/bitcoin-btc-1-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/04\/bitcoin-btc-1-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">The spot Bitcoin ETF market in the US saw another day of outflows, with $200 million exiting on Tuesday, June 11.<\/span><\/li>\n<li><span style=\"font-weight: 400\">Bitcoin price fell sharply amid the outflows and as the market awaits key macroeconomic reports<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">After Monday saw $65 million in net outflows to end a 19-day streak of inflows, the sector recorded the massive outflows as BTC price slipped to near $66k. <\/span><\/p>\n<p><span style=\"font-weight: 400\">This was a second-straight day of spot <a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin-etf\/\">Bitcoin ETF<\/a> outflows in the US, with market reaction to this week\u2019s upcoming macroeconomic reports key to the outlook.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Bitcoin spot ETFs see $200 million in outflows<\/span><\/h2>\n<p><span style=\"font-weight: 400\"> Per <a href=\"https:\/\/sosovalue.xyz\/assets\/etf\/us-btc-spot\" target=\"_blank\" rel=\"noopener\">SoSoValue data<\/a> tracking the performance of the US spot Bitcoin ETFs, Grayscale continued to lead in outflows, with $120 million recorded on June 11. GBTC has seen a total of $18 billion in outflows since spot ETFs debuted on exchanges in January.<\/span><\/p>\n<p><span style=\"font-weight: 400\">On Tuesday, BlackRock\u2019s IBIT recorded zero flows, while Fidelity\u2019 FBTC ended with $7.4 million in outflows and Bitwise\u2019s BITB saw redemptions reaching $11.7 million.\u00a0 ARK Invest\u2019s ARKB had the second-largest outflows with $56.5 million while VanEck\u2019s HODL accounted for $3.8 million.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Bitcoin price struggles <\/span><\/h2>\n<p><span style=\"font-weight: 400\">As the BTC ETFs struggled, Bitcoin price nosedived to lows of $66,000 \u2013 with the price of the flagship cryptocurrency sinking more than 5% in 24 hours. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Currently, BTC price is around $67,970, up 1.7% in the past 24 hours as positive sentiment seeps into the market.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The market however awaits crucial macroeconomic reports, including Consumer Price Index (CPI) and Fed\u2019s interest decision. The two-day Federal Open Market Committee (FOMC) meeting ends on Wednesday and investors are keen on what the Fed Chair Jerome Powell has to say.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Commenting on the market and Bitcoin\u2019s price drop, analysts at QCP Capital <a href=\"https:\/\/x.com\/qcpcapital\/status\/1800511937970868441\" target=\"_blank\" rel=\"noopener\">noted<\/a>:<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cMarkets are risk-off mode ahead of CPI and FOMC tomorrow. This month\u2019s FOMC will also release the Dot Plot, which informs the market how many cuts the Fed anticipates for the rest of 2024.\u201d<\/span><\/p>\n<p>In previous instances, Bitcoin price has bounced after FOMC meeting, recouping losses suffered in the lead up to the key economic event,<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/spot-bitcoin-etfs-record-200m-in-outflows-as-btc-price-struggles\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) The spot Bitcoin ETF market in the US saw another day of outflows, with $200 million exiting on Tuesday, June 11. Bitcoin price fell sharply amid the outflows and as the market awaits key macroeconomic reports After Monday saw $65 million [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":32303,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/32302"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=32302"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/32302\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/32303"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=32302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=32302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=32302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}