Bitcoin ETFs rebound with $119M inflow as Ether extends losses
Bitcoin ETFs returned to net inflows with $119 million on Tuesday despite falling prices, while Ether funds reached a six-session outflow streak totaling $408 million.
Bitcoin exchange-traded funds (ETFs) witnessed a resurgence with $119 million in net inflows on Tuesday, reversing the $90 million loss seen on Monday, according to SoSoValue data. However, the price of Bitcoin itself fell from above $86,600 to below $84,000. At the time of reporting, BTC was trading at $83,971, marking a 2.1% decrease over the past 24 hours, as per CoinGecko.
CryptoQuant contributor MorenoDV noted that Bitcoin's recovery faced challenges due to increased profit-taking as the price traded at a significant premium to traders' estimated cost basis of $68,900. The success of this recovery would hinge on whether new demand could absorb the selling pressure, he added.
In contrast, Ether ETFs continued to bleed, with $202 million in outflows on Tuesday, a sharp increase from around $51 million on Monday. The cumulative outflows for Ether ETFs reached approximately $408 million over the period. Other crypto ETFs also exhibited mixed flows on Tuesday; XRP ETFs attracted $3.1 million, while Solana (SOL) ETFs saw $3.7 million in outflows. Zcash (ZEC) ETFs, however, recorded no net flows after posting outflows in the previous two trading sessions.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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