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BlackRock’s iShares Bitcoin Trust (IBIT) has led spot Bitcoin (BTC) exchange-traded funds (ETFs) into renewed selling pressure.
BlackRock’s IBIT reported its first net cash outflow of $112.25 million after 13 days of inflows.
KEY POINTS
- U.S. spot Bitcoin ETFs ended a nine-day inflow streak with $352.86 million outflows over two days.
- The Coinbase Bitcoin Premium Index turned negative, indicating US institutions are distributing Bitcoin.
- Bitcoin spot trading volume has dropped to its lowest level since October 2023.
COMPANIES
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