Despite the crypto market seeing one of the biggest single-day crashes after the FTX collapse, the Bitcoin ETF outflows dropped on Monday signaling a positive development. On Monday, the net outflows from BTC ETFs were $168 million, dropping from $237 million last Friday. This clearly shows growing institutional confidence in BTC with the asset class recovering y over 10% from the Monday lows.,The reducing ETF outflows show that the market sentiment for BTC ETFs could be recovering very soon. Only Grayscale’s Bitcoin mini-ETF (BTC) saw $21 million in inflows on Monday. The rest have either seen net outflows or zero inflows.,Fidelity’s FBTC, Ark Invest’s ARK, and Grayscale’s GBTC have seen net outflows in the range of $60-$70 million respectively. Although the outflows have slowed, Bitcoin critic Peter Schiff warned that the Bitcoin ETF capitulation won’t be over yet. In his latest message on X, Peter Schiff wrote:,With one of the respondents stating that they would be buying more, Peter Schiff said that $38,000 is not the bottom rather it’s a point where mass liquidations will be triggered by ETF buyers leading to the BTC price collapse further below $20,000.,Also Read: Reasons Why Bitcoin Price Crash Could Continue,As the US futures market showed strength on Monday, the crypto market recovered strongly with the Bitcoin price up 11% at press time, shooting all the way to $56,000.,On the other hand, Ethereum has also surged by 8% shooting above $2,500 with Ethereum ETF recording net inflows on Monday. The rest of the altcoin space is also showing major in the Asian trading hours amid strong recovery in Japan’s Nikkei 225 index.,Institutional exposure to the Bitcoin ETFs has been growing significantly. On Monday, the London-based Capula Management disclosed its $500 million exposure to the spot BTC ETFs. This shows that institutions have been taking this market crash as an opportunity to buy the dips.,Also Read: MicroStrategy’s Michael Saylor Says HODL Bitcoin Despite Sub $50K Crash,
https://coinniu.com/bitcoin-etf-outflows-drop-as-us-futures-stage-strong-recovery/
