Bitcoin ETFs Rebound Amid Ether Decline
Key Summary
Bitcoin ETFs experienced a $119 million inflow despite falling prices, while Ether funds continued a six-session outflow streak totaling $408 million. Bitcoin prices dropped from above $86,600 to below $84,000, but the rebound suggests fresh demand may be emerging. In contrast, Ether ETFs posted significant outflows, raising concerns about the sustainability of the recovery.
Market Update
Bitcoin ETFs Rebound Despite Falling Prices
Bitcoin ETFs returned to net inflows with $119 million on Tuesday, reversing Monday’s $90 million loss, according to SoSoValue data. Bitcoin fell from above $86,600 on Tuesday to below $84,000. At publishing time, BTC traded at $83,971, down 2.1% over the past 24 hours, according to CoinGecko.
Bitcoin’s recovery faced increased profit-taking as the price traded at a substantial premium to active traders’ estimated $68,900 cost basis. Sustaining the recovery would depend on whether fresh demand could absorb that selling, he said.
Ether ETFs Continue to Bleed
Ether ETFs continued bleeding, recording $202 million in outflows on Tuesday, up sharply from around $51 million on Monday. Total outflows over the period rose to about $408 million.
Mixed Flows for Other Crypto ETFs
Other crypto ETFs also posted mixed flows on Tuesday. XRP ETFs attracted $3.1 million, while Solana (SOL) ETFs recorded $3.7 million in outflows. Zcash (ZEC) ETFs posted no net flows after recording outflows in the previous two trading sessions.