Bitcoin ETFs lose $544 million in 6 days!

Bitcoin ETFs are facing an unprecedented financial hemorrhage, recording massive net outflows for six consecutive days. With more than $544 million withdrawn, this phenomenon reflects significant tensions in the crypto market, raising crucial questions about the future of these financial products and their stability. Investors and analysts are closely monitoring this worrying trend, seeking to understand its root causes and future implications.

A series of massive outflows

The market is gloomy. For six consecutive days, Bitcoin ETFs have suffered massive net outflows, totaling more than $544 million. On June 21, outflows reached $105.9 million, marking the sixth consecutive day of withdrawals exceeding $100 million.

The main contributors to this trend are the Fidelity Wise Origin Bitcoin Fund with $44.8 million, the Grayscale Bitcoin Trust with $34.2 million, and the ARK 21Shares Bitcoin ETF with $28.8 million. Conversely, the Franklin Bitcoin ETF recorded an inflow of $1.9 million, an exception in this context of widespread withdrawals.

This financial hemorrhage was also accompanied by an increase in sales by Bitcoin “whales”. These massive sell-offs add additional pressure to an already volatile market, and increase concerns about the future stability of Bitcoin ETFs and the crypto market in general.

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The crypto market under pressure

According to Ki Young Ju, CEO of CryptoQuant, these major crypto whales have sold around $1.2 billion worth of BTC over the past two weeks. Ju warns that if this sell-side liquidity is not absorbed, it could lead to an increase in BTC deposits on exchanges, thereby impacting the market significantly. Indeed, the increase in deposits on the platforms could increase selling pressure, and affect prices and market stability.

The future of Bitcoin could seem uncertain in the face of this wave of withdrawals. But that's not the case. Despite the fall in the price of Bitcoin, 87% of those who hold it are in profit. That is to say !

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