Bitcoin ETF saw net outflows for 5 consecutive days! BTC fell by 62,000, ETH lost $3,300

Bitcoin (BTC) has been facing selling pressure in the past two days, and the price has continued to fluctuate and fall. At around 4 o'clock this morning, the price dropped to as low as around $62,200. At the time of writing, the price was temporarily stable at $64,142, down 1.5%.

Bitcoin spot ETF has had net outflows for 5 consecutive days

The important reference data for Bitcoin buying-Bitcoin spot ETF capital flow has also seen net outflows for the 5th consecutive day (18~ 22nd).

The latest data from Lookonchain shows that on March 22, 9 Bitcoin spot ETFs reduced their holdings by a net 2,460 BTC, with a total outflow of approximately US$155 million. Compared with the situation in the previous two days (US$300 million and US$500 million respectively), the outflow rate has slowed down.

On the 22nd, the Bitcoin spot ETF experienced net outflows for the fifth consecutive day

Bloomberg analyst: Bitcoin selling pressure does not come from the spot ETF

Bloomberg senior ETF analyst Eric Balchunas pointed out that although spot ETFs continued to have net outflows this week, Bitcoin’s recent decline may not be the responsibility of spot ETFs.

He believes the selling pressure comes from other Bitcoin owners. Over the past five days, nine new (excluding GBTC) Bitcoin spot ETFs have seen net inflows of approximately $1.2 billion, but prices have fallen by 8%. There was indeed an outflow of GBTC, but it was mainly Genesis selling GBTC for spot BTC, so this was a neutral event.

"All in all, ETFs have been net buyers of BTC, and there will be more inflows."

Ethereum once fell to $3,300

Ethereum (ETH) The decline also emerged yesterday afternoon. It once fell to a low of US$3,250 this morning and stood back to US$3,341 before the deadline, falling by more than 4.2% in the past 24 hours.

The rise and fall of the leading tokens by market value

CoinGecko data shows that the top 12 major currencies have generally fallen in the past 24 hours, but Dogecoin bucked the trend and rose 4.1%, and Toncoin rose sharply. It exceeded 10.6%, and Bitcoin Cash (BCH) also experienced an increase of 8.2%.

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