The ETF Bitcoin saw exits for USD $ 258 million when BTC fell to USD $ 108,000

By Hannah Pérez

The ETF Bitcoin in cash in the US have now accumulated a negative net flow of USD $ 484.2 million so far this week. Reduced hopes of a rate cut presses Bitcoin down.

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• The ETF Bitcoin in cash in the US accumulate exits of USD $ 484.2 million in the week.
• Bitcoin sank below USD $ 109,000 in the middle of wide correction in the market.
• Reduced hopes of a rate cut presses Bitcoin down.

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The funds quoted in the stock market (ETF) of Bitcoin The cash became negative on Thursday in the middle of the price drop of Bitcoin and in the middle of the publication of key economic data in the US.

Thursday, the 12 ETF of Bitcoin In cash in the United States they registered net exits for USD $ 258 million, after an isolated income on Wednesday. According to data from Sosovaluethe funds have accumulated a negative net flow of USD $ 484.2 million so far this weekwith only one daily entry recorded so far, waiting for the results of Friday.

This negative performance contrasts markedly with the previous four weeks, during which the ETFs of Bitcoin In cash accumulated tickets for more than USD $ 3.900 million, reflecting an abrupt change in the feeling of the market.

Most ETF closed the session with significant sales, with the exception of the Ibit fund of Blackrockwhich registered a net entrance of USD $ 79.7 million. However, this positive flow was not enough to compensate for the mass exits of eight other funds. Fidelity FBTC led the losses with a net exit of USD $ 114.8 million, followed by bitb of Bitwise with USD $ 80 million in exits. For their part, the ETFs of Invesco, Wisdomtree and Hashdex They remained neutral, without net inputs or exits.

Economic data in the US. Impact Bitcoin and ETF

The exit in the ETF coincided with a pronounced fall in the cryptocurrency market, with the price of Bitcoin Retrocating up to a minimum of more than four weeks to USD $ 108,776, according to data from Coingcko.

The appetite for the risk among cryptocurrency investors has cooled in recent days, influenced by economic reports that increase the expectations that the Federal Reserve of the United States will delay the upcoming cuts of interest rates.

Yesterday, the US Department of Trade. This solid economic performance reduced the expectations of rates cuts, with the probabilities that there are no changes in November increasing from 8% to 17%, according to Fedwatch of cme.

The cryptocurrency market experienced a mass liquidation on Thursday, with more than USD $ 1.1 billion in liquidated positions, evidencing a growing feeling of risk aversion. On Friday, the operators were attentive to the report of the Personal Consumer Expenses Price Index (PCE), which showed an expense higher than expected in August, adding pressure to the market.

At the time of this wording, the price of Bitcoin (BTC) is slightly below USD $ 109,000, with a 2.3% drop in the last 24 hours and 12% below its historical maximum of USD $ 124,000 registered last month, according to Coingcko.

Despite the recent exits, the ETFs of Bitcoin The counted have accumulated net tickets for USD $ 57.2 billion since its launch in January 2024, with assets under management (AUM) that reach the USD $ 144 billion after Thursday’s operations.

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Hannah Estefanía Pérez / Diariobitcoin

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