Bitcoin ETFs experienced significant outflows totaling $430 million on July 13, with Fidelity's FBTC and BlackRock's IBIT leading the exits, according to Glassnode data. Fidelity's fund saw redemptions of $246.3 million, while BlackRock's IBIT shed $186.1 million. This comes as ETF trading volumes have plummeted 78% from their peak, now averaging $1.25 billion daily, indicating a shift in investor focus to other asset classes.
The sharp outflows follow a brief period of net inflows, highlighting the volatility in investor sentiment. Bitcoin's price currently hovers around $64,681, up 4.4% in the past 24 hours, but analysts warn that maintaining support above $58,000 is crucial to avoid further declines. Meanwhile, long-term holders have resumed accumulation, adding 5,912 BTC recently, suggesting potential for renewed market participation if volumes recover.
Bitcoin ETF Outflows Surge to $430 Million Amid Trading Volume Collapse
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
