The post Bitcoin ETFs See $55M Outflow: Market Correction or Sign of Trouble? appeared first on Coinpedia Fintech News
On April 12, the cryptocurrency market witnessed Bitcoin ETFs experience massive net outflows totaling $55.1 million. It has sparked market discussions and analysis within the crypto community, making everyone question if these sudden outflows are due to the upcoming Bitcoin halving.
Eric Balchunas has provided valuable insights into these developments. Let’s understand how the ETF flows amidst market volatility.
Bitcoin ETFs Outflows is NOT Because of Halving
According to reports, Bitcoin ETFs experienced net outflows totaling $55.1 million, with BlackRock seeing $111.1 million and Grayscale facing $166.2 million outflows.
On this context, Eric Balchunas remarks, “Totally normal for ETF category to cool off after breathtaking pace like this, esp w/ price down 12% in past 5 days.” He emphasizes the relatively small scale of these outflows, represen
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