The post Bitcoin ETFs Sees Over $1M in Net Outflows, Ether ETFs Lose $29M appeared first on Coinpedia Fintech News
Bitcoin bounced back to $82,000 this week after major turbulence fueled by Trump’s fluctuating tariffs. The markets were able to hold ground and return back to fairly normal levels after Trump’s unexpected 90 day pause on tariffs globally except China. Bitcoin was resilient enough and is currently trading at $83,469, up over 1% in the past 24 hours.
On April 11, Bitcoin spot ETFs witnessed a net outflow of $1.0271 million marking the seventh consecutive day of negative inflows as per data from SoSovalue. ARKB recorded a positive inflow of $11.28 million, while BITB saw a net outflow of $12.31 million. The rest of the ETFs, including IBIT, FBTC, BTCO, BTCW, BRRR, EZBC, HODL, GBTC, DEFI, and BTC, recorded no change with zero net inflows or outflows.
Notably, Ether spot ETFs saw a significantly larger net outflow of over $29 million continuing its four-day streak of losses. This trend highlights the sentiment around investors amid fluctuating markets and regulatory uncertainty.
Bitcoin’s April Outflows Surpass March’s Total
In just under two weeks of April, Bitcoin fund outflows have already crossed March’s total indicating that more outflows could be on the way. On April 10th, Bitcoin ETFs saw $149.66 in net outflows as it continued a six-day streak of withdrawals. Since the start of this month, a total of $813.89 million have been pulled out of Bitcoin ETFs.
Bitcoin has been showing strength this week with higher highs and lows, but a top analyst Atlantis7 is suspicious of this trend. He claims that the 4.80% price increase is due to passive bids on Coinbase and Binance along with active buyers on OKX. This could indicate that institutions are using Bitcoin as a short-term safe-haven asset amid the US-China tariff tensions similar to gold’s recent rise. He warns that this rally might just be an “exit pump”.
Bitcoin Surges Over Fed’s Comments
Bitcoin jumped 5% today trading under $84,000 after Fed President hinted that the Fed could intervene with various tools if needed to keep the markets steady.
Besides, Arthur Hayes notes that the rising bond yields could push the government to take action. He believes that this might pressure the Fed to pump more money into the system which could boost crypto assets. He claims that this could fuel a strong and lasting rally in the broader markets.
Meanwhile, analyst Ali Martinez in a recent X post pointed out that Bitcoin is currently breaking past a key resistance level at $82,360. He notes that if Bitcoin manages to stay above this level, then it could build momentum and potentially rise toward the next target of $91,50.