{"id":44035,"date":"2024-12-25T11:13:53","date_gmt":"2024-12-25T11:13:53","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/btc-eyes-100k-despite-338m-bitcoin-etfs-outflows\/"},"modified":"2024-12-25T11:13:53","modified_gmt":"2024-12-25T11:13:53","slug":"btc-eyes-100k-despite-338m-bitcoin-etfs-outflows","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/btc-eyes-100k-despite-338m-bitcoin-etfs-outflows\/","title":{"rendered":"BTC eyes $100k despite $338M Bitcoin ETFs outflows"},"content":{"rendered":"

(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b>
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The US spot Bitcoin exchange traded funds market continued it\u2019s latest streak of outflows with another $338.4 million exiting on Dec. 24.<\/p>\n

US spot Bitcoin ETFs have recorded net outflows over the past four trading days now. The streak has coincided with BTC price struggling with downside pressure since dropping from its all-time high above $108k.<\/p>\n

On Tuesday, Bitcoin<\/a> recovered from intraday lows of $94k to trade above $98k.<\/p>\n

However, according to data from SosoValue, traders saw net outflows of over $338 million to bring the total amount of money pulled from U.S. spot bitcoin exchange-traded funds over the four days to $1.52 billion.<\/p>\n

Bitcoin dip and ETFs outflows<\/h2>\n

After Monday\u2019s dip and outflows, market analysts at QCP shared their outlook for the market. They posted<\/a> on X:<\/p>\n

\u201cBitcoin\u2019s anticipated year-end surge has fizzled. Instead, a $49.3M Mt. Gox #BTC move sparked a 14% drop, hitting 92.5k before bouncing to 95k. Liquidity\u2019s drying up, sentiment softens, and ETFs saw their 3rd straight day of outflows.\u201d<\/p>\n

In terms of individual funds, BlackRock\u2019s IBIT saw $188.7 million exit on Tuesday, while Fidelity\u2019s FBTC and Ark and 21Shares\u2019 ARKB recorded $83 million and $75 million in negative daily flows respectively.<\/p>\n

However, Bitwise ETF $BITB saw net inflows of $8.5 million.<\/p>\n

These consecutive days of outflows came in a week where the BTC price fell to near $92k. It\u2019s also a week in which MicroStrategy, the world\u2019s largest corporate holder of BTC, acquired more to bring its total holdings to 444,262 BTC.<\/p>\n

MicroStrategy founder and executive chairman Michael Saylor commented:<\/p>\n

\u201cLast week, $MSTR treasury operations resulted in a BTC Yield of .72%, a net benefit of ~3,177 BTC. At $94K per BTC, that equates to a $299 million gift to our shareholders.\u201d<\/p>\n

Commenting further on the company\u2019s latest BTC buy at the average price of $106k, Saylor added on X:<\/p>\n

\u201cIf you are not buying bitcoin at the top, you are leaving money on the table.\u201d<\/p>\n

Interestingly, MicroStrategy has also filed a regulatory application that seeks its shareholders to vote on increasing company shares by 10 billion \u2013 plans that could allow for a staggering splash on Bitcoin.<\/p>\n

Before yesterday\u2019s outflows and the streak of outflows, the 12 spot Bitcoin ETFs had registered 15 straight days of net inflows. In total, positive flows over the 15 days reached $6.7 billion. The recent streak ended on Dec. 18.<\/p>\n

The price of Bitcoin stood at $98,569 at the time of writing on Dec.25. It\u2019s value against the US dollar has jumped 5% in the past 24 hours.<\/p>\n

While it\u2019s pared gains seen in the past month, Bitcoin is up 128% in the past year. Bulls are likely to eye a surge to $100k during this holiday week.<\/p>\n

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(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) The US spot Bitcoin exchange traded funds market continued it\u2019s latest streak of outflows with another $338.4 million exiting on Dec. 24. US spot Bitcoin ETFs have recorded net outflows over the past four trading days now. The streak has coincided […]<\/p>\n","protected":false},"author":13,"featured_media":44036,"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\/44035"}],"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=44035"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/44035\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/44036"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=44035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=44035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=44035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}