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Market correction hits Bitcoin ETF after prolonged inflow streak
After experiencing ten consecutive days of inflows, the U.S. spot Bitcoin ETF has finally undergone a significant correction:
On Thursday, there was a $358.6 million outflow, marking the largest since March 11.
BlackRock's IBIT remains the only ETF showing inflow, with $125 million, while Fidelity's FBTC led the outflows with $166.3 million. Other ETFs like GBTC, ARKB, and BITB also saw withdrawals.
Despite this, the overall net inflow still totals approximately $44.99 billion.
Interestingly, the spot Ethereum ETF recorded inflows of $91.9 million and has seen nine consecutive days of positive flows.
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AI Analysis
The recent sharp correction in the U.S. spot Bitcoin ETF following ten consecutive days of inflows suggests a temporary profit-taking phase or market rebalancing among investors. The $358.6 million ou...
AI Recommendation
Investors should approach the recent correction with caution, recognizing it as a potential short-term adjustment rather than a market reversal. It could be prudent to monitor whether Bitcoin ETFs sta...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
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