Bitcoin ETFs log first net inflows in weeks, while Ether outflows continue

US Spot Bitcoin ETFs Snap 5-Week Net Outflow Streak, Inflows Reach 8-Week High

Inflows Resume after Bearish Period

Spot Bitcoin exchange-traded funds (ETFs) in the US snapped a five-week net outflow streak in the trading week ending March 21. The respite from the bearish period saw a net inflow of $744.4 million, the largest tally in eight weeks, according to data from SoSoValue. This marks an extension of the daily inflow streak to six consecutive days.

Top Funds Contribute to Inflows

Five funds contributed to the inflows, with the bulk coming from BlackRock’s iShares Bitcoin Trust (IBIT), which recorded $537.5 million. Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed with $136.5 million.

Recession Concerns and Trade Tensions

The renewed inflows come after a bearish period for both the crypto market and the broader global economy, marked by growing concerns over escalating trade tensions and rising recession concerns.

US Recession Would Be a Big Catalyst for Bitcoin: BlackRock

Market Sentiment Improves, but Investors Remain Cautious

Market sentiment on crypto has improved since the past week, with the Crypto Fear & Greed Index improving to 45% from 32% last week. However, Singapore-based investment firm QCP Capital advised caution regarding the likelihood of a sustained breakout.

"Upcoming tariff escalations slated for 2 April could once again pressure risk assets," QCP Cap said in a March 24 market analysis.

Conclusion

The Bitcoin ETFs’ inflows have snapped a five-week net outflow streak, indicating a shift in market sentiment. This comes as the broader global economy faces growing concerns over trade tensions and recession. While market sentiment has improved, investors remain cautious, and it is essential to monitor the situation closely.

FAQs

Q: What is the current price of Bitcoin?
A: As of the time of writing, the price of Bitcoin is $87,343.

Q: What is the current price of Ether?
A: As of the time of writing, the price of Ether is $2,090.

Q: What is the current market sentiment for crypto?
A: The Crypto Fear & Greed Index has improved to 45% from 32% last week, indicating a more optimistic sentiment.

Q: What is the current market outlook for Bitcoin ETFs?
A: The Bitcoin ETFs have snapped a five-week net outflow streak, indicating a shift in market sentiment. However, investors remain cautious, and it is essential to monitor the situation closely.

Q: What is the current market outlook for Ether ETFs?
A: Ether ETFs have extended their weekly net outflow streak to four weeks, indicating a bearish sentiment. However, institutions continue to deepen their exposure to the asset.